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Hi Phillip,
Below are Souads delta positions. The highlighted curves have no mappings associated with them. This means that no VaR is being picked up on them. Let me know where they need to mapped and I will get it done. This should fix the problem we are having with her VaR.
Basically her hedges are not being captured.....
Bharat
<Embedded Picture (Metafile)> | {
"pile_set_name": "Enron Emails"
} |
This was Stan Cocke's deal, and since he just transferred into mid-marketing
from real time, he's not used to putting the confimation request into his
deals. This should be confirmed; but since the deal has already flowed, I
wanted to check with you before changing anything. Please let me know.
Thanks,
Kate
From: Sharen Cason 12/22/2000 08:44 AM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: #484043
This deal is coded not to be confirmed, but it flows longer than 6 days which
is the criteria for creating confirmations. Can you check with the trader,
and if it should be confirmed, get a contact and let me know.
Thanks! | {
"pile_set_name": "Enron Emails"
} |
MAKE SURE YOU TURN UP YOUR MUSIC..
>
>
- DANCEOFF.exe | {
"pile_set_name": "Enron Emails"
} |
- Florida Ballot.exe | {
"pile_set_name": "Enron Emails"
} |
Yes and Yes
-----Original Message-----
From: Schoppe, Tammie
Sent: Wednesday, October 03, 2001 5:33 PM
To: Kitchen, Louise
Subject: Couple of things
Do you want a reserved parking spot in the new garage?
Is it okay for Tina to back up Loretta and myself on the phones?
Tammie Schoppe
Enron Americas-Office of the Chair
Assistant to Louise Kitchen
713.853.4220 office
713.646.8562 fax
713.253.2131 mobile | {
"pile_set_name": "Enron Emails"
} |
Guy looks interesting.
Might be a good athlete that we could plug in to various assignments (EGM or otherwise). We could check him out from Foley & Lardner as well as Cadwalader due to our contacts at those firms. I haven't see the transactions list yet.
Is he open to moving to Houston? As you know, it is more complicated when we have to move someone.
Alan
Michelle Cash 06/09/2001 12:40 AM To: Sheila Tweed/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT cc: Subject: MITCHELL F LUDWIN
Here is a candidate referred by Bruce Menke at Associated Counsel. Bruce also forwarded me additional information at my request, specifically addressing why he has moved around so much. I'll forward that on as well.
Let me know if you want to talk with him.
Michelle
---------------------------------------------------------------------------------------------------------
Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas 77002
(713) 853-6401
[email protected]
This message may contain confidential information that is protected by the attorney-client and/or work product privileges.
----- Forwarded by Michelle Cash/HOU/ECT on 06/09/01 12:33 AM -----
"Bruce Menke" <[email protected]> 05/22/01 03:52 PM Please respond to Bruce To: <[email protected]> cc: Subject: MITCHELL F LUDWIN
Michelle,
I hope your week is going well.
Please find attached the resume of Mitch Ludwin. Mitch has great academics
(JD '89 cum laude-top 8%, Law Review, Order of the Coif, etc.) and extensive
transactions experience with an emphasis on finance. Mitch is currently
Senior Associate at Troutman Sanders in Atlanta. Mitch was originally from
New York and began his career practicing for three years with Cadwalader,
Wickersham & Taft in that City. Mitch then joined Mudge, Rose, Guthrie,
Alexander Y Ferdon, spending two years with the firm's New York office,
followed by a year and a half with the firm's Los Angeles office. Upon
dissolution of Mudge, Rose, Mitch joined Fried, Frank, Harris, Shriver &
Jacobson in Los Angeles. Mitch then accepted an opportunity with Foley &
Lardner in Milwaukee, where he practiced four years. Mitch joined the firm
to participate in the start up of the firm's project finance practice and to
be closer to his wife's family. This area of the firm's practice did not
develop as anticipated and the attorneys brought in with this expertise
moved to other firms. Mitch joined Troutman to focus on asset-based lending.
I would be happy to provide any additional information concerning Mitch
which you may wish and to arrange an interview, if you so desire. I
anticipate receiving a transactions list, which I will forward to you. I
have also submitted Mitch's resume to Enron Energy Services for
consideration.
Regards, Bruce Menke
- Ludwin, Mitchell F. (resume, 89, 051801).doc | {
"pile_set_name": "Enron Emails"
} |
Busy week while you were gone. Here is what I bought.
11/14-17 15,000/d $5.83 TCOAP DJenkins
11/15-20 30,000/d $6.02 TCOAP S.Hendrickson
11/17 4,108/d $5.95 TGP/TCO Broadruncobb DJ
11/18-20 4,108/d $5.85 TGP/TCO Broadruncobb DJ | {
"pile_set_name": "Enron Emails"
} |
Hello,
Please prepare an HPL M/P per terms of the attached credit worksheet. The
timetable on this is immediate. Please copy me with the draft by e-mail once
the contract is prepared.
Also, please prepare an assignment document to move trades (NA0376 and
NU2813) from Cannon Interests Houston to Kinder Morgan Texas Pipeline, Inc.
It should be noted within the assignment document that these trades are
assumed under the Kinder M/P (yet to be entered into) and that it is these
credit terms that should apply, not those of the original confirmation.
Everyone has agreed to be flexible on all this in order to wrap this up by
Friday. Thanks
Thanks
brant | {
"pile_set_name": "Enron Emails"
} |
EFF_DT PORTFOLIO_ID DOWN95
1/10/01 MANAGEMENT-COAL 2,542.
1/10/01 MANAGEMENT-CRD 29,505.
1/10/01 MANAGEMENT-GAS 1,551,575.
1/10/01 MANAGEMENT-PWR 131,929.
1/10/01 AGG-MANAGEMENT 1,671,464. | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Tana Jones/HOU/ECT on 06/22/2000 08:50 AM -----
Frank L Davis
06/21/2000 06:02 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Pulp & Paper Long Descriptions
Tana,
Attached below are examples of EnronOnline long descriptions for pulp & paper
products.
Let me know if you have any questions.
Frank | {
"pile_set_name": "Enron Emails"
} |
Attached please find a simple Whitewing structure. There are 4 outside
investors in Osprey that must consent to any purchase of the structure of
more than $40MM. Thunderbird, which is a Delaware (i think) L.P., will be
the entity within the structure that will purchase ENA's equity in the Wind
and Powder River projects. Let me know if you need further explanation.
Thanks.
Nicole
3-0656 | {
"pile_set_name": "Enron Emails"
} |
PLEASE PRINT THIS FOR ME. I'LL NEVER BE ABLE TO PRINT.
-----Original Message-----
From: Wong, Michael
Sent: Wednesday, May 02, 2001 5:43 PM
To: Calger, Christopher; McDonald, Michael; Parquet, David; Fillinger, Mark; Jones, Karen E.; Schneider, Chip; Soo, Jeffrey A.; Manis, Herman; Bills, Lisa; Clark, Catherine; Kerrigan, Brian; Mays, Wayne; Redmond, Brian; Koskas, Ethel
Cc: Kitchen, Louise; Lavorato, John
Subject: Roseville DASH
All,
Attached is the latest Roseville DASH with most of your comments incorporated. We are hoping to finalize this by the end of the week, incorporate the final results from RAC and circulate for final approval early next week. Please review and forward comments to both myself and Mark Fillinger by end of business tomorrow (5/3). If you have any questions, contact either myself or Mark (415-782-7815). Thanks.
Michael Wong
Enron North America
(w) 415-782-7808
(f) 415-782-7851 | {
"pile_set_name": "Enron Emails"
} |
Kim,
I am sending you the presentations by Krishna and Y. Feng.
These presentations may be further modified by both Krishna and Youyi
before Wednesday.
Vince | {
"pile_set_name": "Enron Emails"
} |
FYI.
-----Original Message-----
From: McCoppin, Dorothy
Sent: Tuesday, November 20, 2001 8:03 PM
To: Horton, Stanley; Ambler, John; Corman, Shelley; Craig, Rick; Gadd, Eric; Harris, Steven; Hartsoe, Joe; Hawkins, Don; Hayes, Robert; Hayslett, Rod; Hotte, Steve; Howard, Kevin A.; Keller, John R.; Kilmer III, Robert; Lowry, Phil; Martin, Jerry D.; McCarty, Danny; Miller, Mary Kay; Nelson, Mike; Neubauer, Dave; Peters, Jerry; Pribble, Dan; Saunders, James; Shafer, John; Smith, Gary; McGowan, Mike W.; Miller, Kent
Cc: Fossum, Drew; Soldano, Louis; Raker, Colleen; Porter, Gregory J.; Crowley, Philip; Wilkie, Kim; Bargainer, David K.; Pryor, Tony; Huber, Lee; Rapp, Bill; Kyle, Candace; Melton, Richard ; Holtzman, Staci; King Jr., Frazier; Pavlou, Maria; Dornan, Dari; Talcott, Jim; Brown, William E.; Ringblom, Kathy; Taylor, Gina; Davis, Hardie
Subject: Summary of Covenants under Merger and Loan Documents
Importance: High
Please see the attached memo, summarizing the various covenants contained in merger and loan documents that have
been executed in the last two weeks. These covenants are important, as they relate to ETSC's, TW's, and NNG's ongoing
operations.
--Dot | {
"pile_set_name": "Enron Emails"
} |
Process for Identifying
Commercially Significant Constraints (CSCs)
1. The ERCOT Engineering Subcommittee (ESC) Steady
State Task Force (SSTF) will complete preparing
the Summer 2001 On Peak base case around December
1, 2000.
2. Using that base case, ERCOT System Planning
will conduct an analysis of the base case
identifying transmission constraints and possible
congestion zones. The performance criteria used
in evaluating the system will be the ERCOT
Planning Criteria. These results will be provided
for stakeholder/market entity review and input in
January.
3. Based upon this input, ERCOT will develop a
recommendation and present to the TAC the
identified transmission constraints and related
CSC zones in early February.
4. Once CSC's are identified, shift factors will
be calculated on each transmission constraint
relating to each CSC. These will be provided to a
stakeholder working group for development of
average shift factors for use in applying
congestion management to the market transactions.
-------------------------------------------------
ERCOT System Planning is preparing calculations
and data to support the identification of
Commercially Significant Constraints (CSC). This
work will be posted on the Internet very soon for
stakeholder review and input. A meeting to
discuss these calculations with stakeholders will
be held:
Wednesday, January 31
9:30 AM to 3:30 PM
Red Lion Hotel in Austin (I35 & 290)
The goal of this meeting is to identify which
transmission system contingencies and limiting
elements are commercially significant. After
CSC's are determined at this meeting, ERCOT will
develop a recommendation and present it to TAC at
their February 7 meeting.
We have also set up an email account to receive
comments. Its email address is
[email protected] It will be available
throughout this process to receive comments and
input.
Your cooperation in this matter is appreciated.
Kenneth A. Donohoo, PE
Manager of System Planning, Technical Operations
ERCOT
2705 West Lake Dr.
Taylor, TX 76574-2136
(512)248-3003, FAX(512)248-3082 | {
"pile_set_name": "Enron Emails"
} |
ISDA PRESS REPORT - NOVEMBER 26, 2001
ASIA
* Korean Regulation Change Will Allow Onshore Equity -
Derivatives Week
CREDIT DERIVATIVES
* Condensed default swap confirmation launched - IFR
* Banks move to boost credit derivatives liquidity - Risk News
* Fitch Plans Credit Hiring Spree - Derivatives Week
REGULATORY
* Cross-Border Security Transactions Costing More Than
Domestic Ones, EC Says - BNA
* Enter the FSA - Financial Times
* FSA to open securitised derivatives to retail sector - Risk
News
TAX
* Dealers hope for clarity on swap books - IFR
Korean Regulation Change Will Allow Onshore Equity
Derivatives Week - November 26, 2001
The Financial Supervisory Service in Korea will permit local securities
houses to trade over-the-counter equity derivatives next July; a move that
players said will bolster the market. "[The regulations] will strengthen the
competitiveness of the securities companies and offer investors a greater
range of choices in the financial market," said Lee Young Gi, associate in
the securities supervision department of the FSS in Seoul.
"More participants will lead to greater liquidity," said Charles Chiang,
equity derivatives trader at Nomura International in Hong Kong. He continued
that offshore flow products such as index options and equity swaps for the
Korean market totaled about USD100 million this year. Chiang added that with
the new regulations enacted, the Korean OTC market is set to grow, likely
expanding by over 50% in the first year and substantially higher after that.
"We've been waiting for this for a long time," noted one equity derivatives
regional head at a global firm in Hong Kong. "This is good news," he
continued, "this will in effect open up the onshore market for international
players." Currently, international firms trade primarily in the offshore
market.
Condensed default swap confirmation launched
IFR - November 24, 2001
IP Morgan Chase and Morgan Stanley last week introduced a credit default
swap master agreement to the European market, which reduces documentation to
a one-page confirmation form.
The master agreement is based on the 1999 International Swaps and
Derivatives Association credit derivatives definitions, but 22 of the 30
clauses that are typically subject to agreement are standardised under the
shorter master agreement, leaving only eight clauses to be agreed for each
trade.
The two banks said that use of the new master agreement would allow quicker
trade confirmation, reduce operational risk and should eventually improve
market liquidity. They did their first trade using the new master agreement
last Tuesday and had closed a total of six deals using the new form by
Friday. The two banks' London offices typically trade credit derivatives
with one another five to 10 times a week.
The new agreement had not been adopted by any other dealers by the end of
last week, and traders expressed some surprise that the two US banks had
launched the document on their own, without consultation under the aegis of
trade group ISDA. "That would have taken quite a long time, and at the end
of the day these are bilateral contracts," said Guy America, European head
of credit derivatives trading at JP Morgan Chase.
Both banks intend to use the agreement in their default swap trades with
other dealers and expect it eventually to prove popular throughout the
market. "I don't see any reason going forward why it would not be rolled
out to end users of the product," said Annabel Littlewood, European head of
credit derivatives trading at Morgan Stanley.
She added that JP Morgan Chase and Morgan Stanley have agreed to use the new
master document in trades between their New York dealing desks, with
amendments to be made for local market practice.
US dealers typically use the modified definition of restructuring as a
credit event, and two weeks ago they dropped the use of the obligation
acceleration clause as a standard feature of default swaps.
Banks move to boost credit derivatives liquidity
Risk News - November 23, 2001
By John Ferry
JP Morgan Chase and Morgan Stanley have agreed to standardise most of the
items on their European credit swap master agreements, in a move designed to
increase liquidity in the credit derivatives market.
By cutting the widely used International Swaps and Derivatives Association
(ISDA) documentation down from several pages to just one, the banks aim to
minimise the time taken to execute and confirm a trade while reducing
documentation risk. "Frequent credit swap traders will be able to increase
the volume of confirmed trades, thereby increasing market liquidity and
growth of the credit derivatives business," said the banks in a joint
statement.
Standard ISDA master agreements for credit swaps have 30 negotiable items.
JP Morgan and Morgan Stanley's shortened version leaves only eight items
open to discussion. The banks said the one-page confirmation form contains
only the "key commercial terms", including the name of the underlying
company, the notional involved and the price and duration of the trade. The
banks claim this will eliminate the risk of a party missing a modified term
or adding terms that were not previously agreed.
Guy America, head of European credit derivatives trading at JP Morgan Chase
in London, said the development of the credit derivatives market will
receive a boost as a result of the agreement. "The new agreement now looks
very similar to an interest rate swap contract," he said.
Annabel Littlewood, head of European credit derivatives trading at Morgan
Stanley in London, said it took around a year to finalise the agreement.
"It's been quite a struggle getting to the point where dealers agree on the
major terms in the contracts."
Fitch Plans Credit Hiring Spree
Derivatives Week - November 26, 2001
Fitch plans to hire six or seven collateralized debt obligation
professionals for its London-based CDO rating team because of the increase
in the number of deals coming to the market. Mitchell Lench, senior director
in London, said it has about 15 CDOs in the pipeline this month in
comparison to five or six this time last year, approximately one-third of
these are synthetic or balance sheet transactions.
Lench expects the new recruits to start in the first half of next year and
to come from structuring houses, investment firms or competitors. The hires
will include a lawyer familiar with the International Swaps and Derivatives
Association's documentation. There are currently 10 professionals in the CDO
team in London. Lench said it is becoming easier for rating agencies to hire
top personnel because the wage differential between the agencies and the
sellside firms has decreased. He added recruits also join rating agencies
for job security and to get a bird's eye view of the market.
Cross-Border Security Transactions Costing More Than Domestic Ones, EC Says
BNA - November 26, 2001
Despite an increase in the demand for securities by foreign investors
because of the euro, there is a highly fragmented system in the European
Union when it comes to cross-border clearing and settlement, concluded a new
report published Nov. 23 on behalf of the European Commission.
Moreover, the cost of clearing and settling a foreign security transaction
can be 10 times as much as a domestic sale. "There is no European financial
market right now and one has to wake up to this reality," said Alberto
Giovannini, the chairman of a group that wrote the report.
Legislative Proposal Planned
As a result of the report, the EU executive body said it will begin a
legislative process in 2002 to reverse the inefficiencies in the EU system.
At the same time, the commission urged financial markets to find
market-based solutions within the framework of the EU competition law.
"The additional cost and risk associated with a fragmented clearing and
settlement infrastructure represents a significant limitation on the scope
for cross-border securities trading in the EU," said EU Economics
Commissioner Pedro Solbes. "By extension it also represents an important
limitation on exploiting the economic benefits of the internal market and
the euro."
Three Main Problems Cited
The three main problems highlighted in the report are as follows:
* national differences in technical requirements and market
practice;
* national differences in tax procedures;
* issues relating to legal certainty.
While the report says financial markets could do much when it comes to
convergence and ensuring inter-operability as regards technical requirements
and market practices across national systems, it is up to governments and
the European Commission to deal with matters related to taxation and legal
certainty.
Enter the FSA
Financial Times - November 26, 2001
Midnight on Friday will be a historic moment for Britain's financial
services industry. At that hour its new system of regulation under the
Financial Services Authority will come fully into effect, more than four
years after it was first proposed by the Labour government. How the FSA
handles its new powers, such as personal fines for wrongdoing by directors,
will have a profound impact on the City of London and its place as a global
financial centre. It will be closely watched by countries considering a
similar move.
The legislation that created the FSA - rightly amended to curb its powers to
punish - is broadly sensible. The authority replaces 10 self-governing
industry bodies that have not always regulated consistently or with
sufficient bite. The aim is to make regulation more efficient and more alert
to the scandals that have regularly plagued the City.
The legislation leaves wide discretion to the authority. But Sir Howard
Davies, its chairman, has promised a new and sensible risk-based approach:
resources will be focused on preventing problems where failure is most
likely rather than on routine visits to well run companies. Better
businesses should enjoy a lighter regulatory touch.
That is fine in principle but the City awaits the new policeman with
apprehension. There are three main worries. First, that it will prove
heavy-handed. There are widespread complaints that while senior FSA staff
are excellent, more junior ones still suffer from a box-ticking mentality.
Compliance costs, it is said, have been rising - a particular worry for
small companies. Second, there is concern that the authority may stretch
itself too thinly. A recent report on Equit-able Life criticised the FSA's
role, including its poor internal co- ordination.
Third, there is a fear the FSA will adopt an excessively aggressive approach
in its pursuit of wrong-doing, particularly for the newly created offence of
"market abuse", and might go for some early high-profile scalps. The
authority denies this, as well it might. A reputation for inquisitions would
serve it ill.
Some of the City's concerns stem from natural tensions between regulator and
regulated. But the FSA, which can sometimes appear overly sensitive to
criticism, needs to be alert to these anxieties if it is to start on the
right note.
The main test will be to produce a flexible, low-cost regime that is firm
yet fair, while encouraging innovation and London's growth as a global
centre. This will be a difficult balance - but the FSA's short life so far
offers hope that it will get it broadly right.
FSA to open securitised derivatives to retail sector
Risk News - November 21, 2001
The UK's financial watchdog, Financial Services Authority (FSA), plans to
allow retail investors to invest directly in securitised derivatives for the
first time by initiating a flexible listing regime.
The proposals, which will be relevant to issuers of listed securities and
derivatives, have been released in a consultation paper, 'Proposed Listing
and Conduct of Business Rules for Securitised Derivatives', after
discussions with market participants and international regulators.
The idea to list retail covered warrants was first raised by the FSA in
January this year. The new proposals offer a wider and more flexible regime
that includes other types of derivatives. The paper details the
determination of who can issue securitised derivatives and the information
about these products that must be disclosed.
The FSA's proposals focus on establishing the suitability of retail
investors to purchase securitised derivatives and the qualification of IFAs
(independent financial advisers) and brokers to advise on derivatives. The
listing of securitised derivatives will also include a risk warning with
full disclosure of the risks associated with these products, alongside
details of the product, how it works and how the investor's return is
calculated. Issuers of securitised derivatives will also need to be
regulated by the FSA and permitted to conduct business in derivatives.
Ken Rushton, director of listings at the FSA, said: "Market participants
believe there will be a demand for these products, which are very popular in
some European countries. The FSA believes there is the potential for the
market in the UK for these products to be substantial if UK investors show a
similar appetite for these products as they have for other products such as
spread betting and options."
Dealers hope for clarity on swap books
IFR - November 24, 2001
Some clarification is expected this week on how the US courts may rule on
the Internal Revenue Service's challenge to dealers' methods for valuing
income from swaps. Closing arguments in Bank One Corporation v Commissioner
are set to begin on Wednesday.
Although no decision is expected before March or April next year, the nature
of the questions asked by the judge during the closing arguments may be
telling, industry executives believe.
The IRS's case is that the method for valuing First Chicago's swaps
portfolio between 1991 and 1993 included inappropriate downward adjustments
for credit risk and administrative costs. This, the IRS alleges; led the
dealer to underestimate the value of its income from derivatives, and
thereby reduced its taxable income base. Bank One acquired First Chicago
more than three years ago.
Bank One claims that the method used was common practice at the time. In a
brief filed this summer the bank also said that its numbers were more
accurate with the adjustments than without. It is proposing to use an
adjusted mid-market approach to valuing income from swaps.
To the annoyance of some in the derivatives industry, the IRS's 600-page
brief submitted in September did not tell dealers what recipe they should
use for valuing income from swaps. "They only put forward a brief saying
that the way Bank One did it was wrong," one firm's lawyer said. "[The
government's position] can't be applied somewhere else. And it doesn't tell
an IRS agent how to audit [another dealer]."
The IRS was not under any obligation to come up with a better method, though
this would have been helpful, the lawyer said. The problem with an
across-the board use of a mid-market approach of the type used by Bank One
is that banks using this approach rarely mark up their valuations because of
their own credit risk, said Darrell Duffie, a professor of finance at
Stanford University's business school who is one of two court-appointed
experts for the case.
One partial way to address this would be to disallow mark-downs from
mid-market value when a counterparty has the same or higher credit quality,
said Duffie. Under a slightly more refined guideline, banks would mark down
swaps based on the credit quality of its counterparty relative to its own
quality.
"For example, if an A rated bank issuing debt at 20bp over Libor signs a
swap with an A- counterparty issuing at 50bp over Libor, then the swap could
be marked down based on a mean (relative) loss rate of 50-20=30bp per year,
per dollar of expected exposure," said Duffie.
"This is not text-book perfect, but would capture the majority of the effect
of relative quality. [Also] it would not require new software, just a shift
in model inputs for mean loss rates."
**End of ISDA Press Report for November 26, 2001**
THE ISDA PRESS REPORT IS PREPARED FOR THE LIMITED USE OF ISDA STAFF, ISDA'S
BOARD OF DIRECTORS AND SPECIFIED CONSULTANTS TO ISDA ONLY. THIS PRESS
REPORT IS NOT FOR DISTRIBUTION (EITHER WITHIN OR WITHOUT AN ORGANIZATION),
AND ISDA IS NOT RESPONSIBLE FOR ANY USE TO WHICH THESE MATERIALS MAY BE PUT.
Scott Marra
Administrator for Policy and Media Relations
International Swaps and Derivatives Association
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: [email protected] | {
"pile_set_name": "Enron Emails"
} |
I need a new pipeline set up. CES currently has 1.5 BCF of LNG storage on
this pipeline under 3 separate contracts. All 3 contracts expire 2/29/00.
Name: Cove Point LNG Limited Partnership
Internet Address: http://www.latec.com/covepointlng/
Curve: Tetco M3
This deal is currently entered in Sitara under deal 142034 as CPR Storage on
CGAS. We have withdrawals of 75,000 day from the 12th through the 31st.
Linda, would you see if you have a copy of the contracts from CES?
Please let me know what I need to do. | {
"pile_set_name": "Enron Emails"
} |
Everyone,
As we stated earlier, this particular virus that is on the internet is causing a lot of issues for Corporations. As a result, the companies who write anti-virus software are continuously updating their software. As of this morning, another update has been made available to us. This update does a better job of protecting your PC than the update we received last night.
At this time, it is extremely important that you again go through one of the procedures listed below to get the latest update.
1. Logout of the network and log back in or
2. Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button. This will pop up a screen where you will have to click the "Next" button and then a "Finish" button. - If you are an EES user, this option is not available to you. Please use option 1.
The proper version of the update pattern you need is: (9/18/2001, version 30918BL) - You may need to restart the Norton Anti-Virus client if you want to visually insure that you have the latest update.
If you have questions or concerns, please direct them to your Resolution Center.
Enron Global Technology | {
"pile_set_name": "Enron Emails"
} |
Mike,
Sorry,
Yes this is still on. I talked to everyone except Daren. Just did and he is
fine with this approach.
Too many plates in the air.
thanks
bob
Michael Olsen
03/22/2001 02:03 PM
To: Bob M Hall/NA/Enron@Enron
cc:
Subject: Follow Up
Bob,
I wanted to just follow up with you about what we had discussed a couple weeks ago. We had briefly touched on the possibility of me rotating down with Daren and working the off system scheduling.
I was talking with Daren last night and he had not heard anything about this. I plan to begin working with Mark and Mary next week to learn how to schedule these pipes. Before we begin this, I just wanted to make sure that what we had discussed is still planned.
Thanks for your time.
Mike | {
"pile_set_name": "Enron Emails"
} |
FYI, cpy below is governmental.
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/19/2000 10:17 AM
---------------------------
David Minns@ENRON_DEVELOPMENT
04/18/2000 04:26 PM
To: Tana Jones/HOU/ECT@ECT
cc: Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Allan
Ford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shari
Wicks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: EOL Credit Responses 4/17
Confirming CS Energy Limited are cleared to trade Australian power. Just to
confirm they are a Government owned entity and should not trade any other
products without further review.
To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: EOL Credit Responses 4/17
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/18/2000 09:04 AM
---------------------------
From: Tom Moran
04/17/2000 05:13 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, Brian Hunter-Lindsay/LON/ECT@ECT, Coenraad
Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT,
Connie Sutton/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Sylvia A
Campos/HOU/ECT@ECT, Matthew Allan/LON/ECT@ECT, Molly Harris/HOU/ECT@ECT
Subject: EOL Credit Responses 4/17
Please find attached Credit's EOL responses for 4/17/00
Regards
tm | {
"pile_set_name": "Enron Emails"
} |
Maybe have her contact Ted since he is in London??? Rick | {
"pile_set_name": "Enron Emails"
} |
Any news?
we would like to trade that this bid week
Thanks,
Eric | {
"pile_set_name": "Enron Emails"
} |
Reservation status has changed to RECEIVED. See attachment.
ASSIGNMENT_REF = 30787
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 25
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 06/11/2002
STOP_TIME = 06/11/2002
CEILING_PRICE = 3.13
OFFER_PRICE = 3.13
BID_PRICE = 3.13
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = CONFIRMED
STATUS_NOTIFICATION = [email protected]
STATUS_COMMENTS =
TIME_QUEUED = 06/10/2002
RESPONSE_TIME_LIMIT =
TIME_OF_LAST_UPDATE = 06/10/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = For info please call (503)464-5070.
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = [email protected]
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = [email protected]
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0
REASSIGNED_START_TIME =
REASSIGNED_STOP_TIME = | {
"pile_set_name": "Enron Emails"
} |
Joe Stepenovitch dropped: Chapman, Doug MIN RB
and acquired: Alstott, Mike TBB RB
Natural Gas Gridiron Address:
http://fflnet.myfantasyleague.com/fflnet2001/home/0205
Questions about this site? Check out our FAQ (Frequently Asked Questions)
at http://www.myfantasyleague.com/fflnet2001/support_faq.html
or our detailed on-line help at
http://www.myfantasyleague.com/fflnet2001/coach.html | {
"pile_set_name": "Enron Emails"
} |
Hey Katy,
Sorry no correspondence in a while. I wish it was a case of no news is good
news, but if you've spoken with Em recently you know that is not so. Anyway,
I wanted to touch base with you regarding my visit to London. I of course
want to try and time it when both you and Em are in town. So...I was
thinking of flying out on Oct 4 and returning Oct 9, that way I would have a
weekend over there with y'all. I know you're planning a trip to Egypt around
then so just get back to me and let me know if you'll actually be in London
any of those days. Hope all is well with you.
Talk to you soon,
Susan | {
"pile_set_name": "Enron Emails"
} |
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Issue No. 06 October 18, 2001
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Matchup of the Week
<http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/helmets/sd.chargers.sm.gif> <http://i.cnn.net/si/email/pro_football_extra/images/helmets/den.broncos.sm.gif>
by SI's Peter King
After I, along with most of the western world, declared the Broncos the favorites in the AFC West this fall, they've now been beaten to the kind of Gerry Cooney pulp that makes their top-flight status quite shaky. They're the third-highest scoring team in their own division, for crying out loud. (San Diego 132, Oakland 131, Denver 123.) And quarterback Brian Griese has a bum throwing shoulder; he has far less zip on the ball. Trouble, with a capital T, especially now that he has to play without Ed McCaffrey. Even though the Chargers have lost two straight weeks on the road to beatable Cleveland and New England, you have to like their chances to win at a fever-pitched Qualcomm. I like Doug Flutie to play big in a big game. Flutie and new offensive coordinator Norv Turner have made some beautiful music together in the first third of the season, which is pretty remarkable considering this is about the 64th offense Flutie's had to learn since leaving Boston College. "It's tou! gh! when you have to keep learning new offenses,'' Flutie tells me, "but you have to wipe the slate clean and start fresh. A lot of guys carry some baggage when they go from one place to another. You say, We used to to do it this way, or call it such and such, and you think of it in those terms. But you have to erase that. I've been pretty good at doing that. And the bottom line here is, I believe in Norv Turner, and I will try to do it his way. It's worked well so far."
Catch Sports Illustrated's Peter King live from Raymond James Stadium in Tampa with the latest football news Sunday at 10 a.m. on NFL Preview.
_____
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Bill Frakes
Click here to enlarge this picture <http://cnnsi.com/football/nfl/features/2001/newsletter/1016/sapp_lg-01.jpg>
SI's Photo of the Week
The Titans Sapped Tampa Bay's all-pro defensive tackle of his strength in a key overtime battle. <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/drz_50x65.gif> <http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
Power Rankings
<http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
from SI's Dr. Z
<http://i.cnn.net/si/email/pro_football_extra/images/helmets/st.rams.sm.gif> St. Louis Rams (5-0)
The Giants figured out how to slow them down: Put your best pass rusher on a guy who's playing with a separated shoulder and a broken hand.
<http://i.cnn.net/si/email/pro_football_extra/images/helmets/gb.packers.sm.gif> Green Bay Packers (4-1)
Superb work by the offensive line against the Baltimore rush made a statement. Without heat on the quarterback, a zone defense -- anyone's, even that of the Ravens -- is fresh meat for a hungry lion like Brett Favre.
<http://i.cnn.net/si/email/pro_football_extra/images/helmets/ok.raiders.sm.gif> Oakland Raiders (4-1)
Why look for problems after a good road victory, but we must point out that the 101 yards gained on the ground was the most by the Raiders this year, and sooner or later it's gonna catch up with them.
For more Power Rankings click here <http://cnnsi.com/football/news/2001/10/16/power_rankings/>
_____
<http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
What You Need to Know by SI's Peter King
<http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
1. Butch Davis believes just what his old boss in Dallas, Jimmy Johnson, believes when it comes to draft choices. In jettisoning a player they were not using prominently, defensive lineman Stalin Colinet, to Minnesota, the Browns upgraded a seventh-round draft pick to a fifth-rounder. Now Cleveland has the most picks in the 2002 draft, 10, of any team in the league but expansion Houston.
2. With the No. 1 pick in next April's draft, Houston likely will not reach for either of the two top-tier quarterbacks available, Oregon's Joey Harrington and Fresno State's David Carr. My sleeper picks for the Texans' Opening Day QB: Shane Matthews or that kid with the Texas name and California 'tude, Cade McNown.
3. Good for Mike Holmgren. He's not wavering on putting Matt Hasselbeck back in the lineup next week at Miami. Here's the thing with the Seahawks' QB situation: You'll never find the upside of Hasselbeck unless you play him. Remember, it was late in Brett Favre's second year as a starter when assistant coaches on the Green Bay staff urged Holmgren to yank him. Hasselbeck needs time, even with the pennant race on the line.
4. Underrated Defensive Player of the Year so far: Pittsburgh rookie linebacker Kendrell Bell, a force as an inside and outside player. He has 20 tackles and three sacks in his last three games. And doesn't that make the Cowboys sick. This was the player Jerry Jones bypassed to select Quincy Carter, trumping the Dallas draft board.
Click here to send a question to Peter King's mailbag <http://sportsillustrated.cnn.com/football/nfl/news/2000/08/30/submit/>
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Unsung Heroes
<http://i.cnn.net/si/email/pro_football_extra/images/black1x1.gif>
by CNNSI.com's Pat Kirwan
Wide receiver Hines Ward was supposed to watch two first-round draft picks take over starting roles at his position in Pittsburgh. But Plaxico Burress and Troy Edwards haven't developed the way Ward has. In the past two weeks he has caught 12 balls for 106 yards and a touchdown. Meanwhile, backup running back Amos Zereoue has been giving the Steelers a change of pace when Jerome Bettis has needed a break. In the last two games, Zereoue has rushed 16 times for 102 yards. In my book, that makes him a productive player behind the scenes and a guy a number of teams would start if they had him on their roster.
Click here for more of Pat Kirwan's Unsung Heroes <http://cnnsi.com/inside_game/pat_kirwan/news/2001/10/17/unsung_heroes_oct17/>
_____
INSIDE THE NFL, cable's longest running, most successful sports series, returns for its unprecedented 25th anniversary season. Log on to <http://www.hbo.com/infl> and submit a question to our hosts Len, Nick, Cris, Jerry and Dan who just might answer it on air. Also, check out our columns from football experts Gary Myers and Elliott Kalb as well as exclusive video interviews. Inside the NFL after 25 years, still the show the pro's watch.
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<http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> <http://i.cnn.net/si/email/pro_football_extra/images/clear1x1.gif> Fantasy Tip of the Week
by CNNSI.com's James Quintong
It looks like it's safe to play Terry Glenn after he had a huge game against the Chargers on Sunday. He could be in for another big effort as the Patriots take on the Colts. The Indianapolis defense is still very spotty, allowing New England to put up 44 points in Week 3. Glenn's return could help the value of Tom Brady, who you might want to pick up if you're desperate for quarterback help.
Tim Biakabutuka hasn't had much of a season so far, but this could be the week to play him as the Panthers take on the Redskins, who have the worst run defense in the NFL. In fact, until proven otherwise, any decent running back playing Washington that week will be a recommended play.
For more fantasy news and tips click here <http://sportsillustrated.cnn.com/fantasy/>
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Poll
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In the fourth quarter, with the game on the line, which QB would you want?
* John Elway
* Brett Favre
* Dan Marino
* Joe Montana
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Results on NFL Preview - Sunday, 10 a.m. on CNN
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This message was sent to you at [email protected] | {
"pile_set_name": "Enron Emails"
} |
Phil,
Attached please find the first draft of the proposed confidentiality
agreement between ena and midcoast. Please read paragraph 7 together with
the definition of Proposed Transaction in the first paragraph to determine if
you think the language is sufficient to cover us. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/17/2000
04:00 PM ---------------------------
From: Doug Leach 08/17/2000 10:00 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Cairn Gas Purchase Bid
fyi
---------------------- Forwarded by Doug Leach/HOU/ECT on 08/17/2000 09:59 AM
---------------------------
Douglas S Parsons@ENRON_DEVELOPMENT
08/15/2000 09:30 AM
To: Doug Leach/HOU/ECT@ECT
cc: Marc De La Roche/HOU/ECT@ECT
Subject: Re: Cairn Gas Purchase Bid
I can appreciate and share your objective. Earlier today I sent a separate
note to Vince forwarding your concerns and asking again for his assistance.
I'll start there and if needed I'll contact Michael Popkin's structuring
group. However, before getting too many people involved I want to see what
feedback we get from Cairn after they've discussed the offers internally this
week.
Doug Leach@ECT
08/15/2000 08:37 AM
To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Marc De La Roche/HOU/ECT@ECT
Subject: Re: Cairn Gas Purchase Bid
I gave you several clear alternatives such as contacting Vince's structuring
group, Michael Popkin's Southern Cone structuring group and a long discussion
regarding the pricing and suggested "collar." I also asked if you had spoken
to your customer about what they were willing to pay, but that was a non
starter. Trust me, I have seen almost every bad deal Enron has entered into
or attempted to enter into and I am trying to get Metgas to objectively
relook at their offer to Cairn become it becomes another bad deal.
Douglas S Parsons@ENRON_DEVELOPMENT
08/15/2000 08:31 AM
To: Doug Leach/HOU/ECT@ECT
cc:
Subject: Re: Cairn Gas Purchase Bid
That's fine, but don't you think I would also prefer not receiving criticism
that assumes I didn't do something and provides no clear alternative.
Doug Leach@ECT
08/15/2000 07:52 AM
To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Marc De La Roche/HOU/ECT@ECT, Bobby
Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Cairn Gas Purchase Bid
You spoke to me once and I gave you my opinions which were contrary to your
resultant offer to Cairn. Currently, I have better things to do with my time.
Douglas S Parsons@ENRON_DEVELOPMENT
08/15/2000 12:10 AM
To: Doug Leach/HOU/ECT@ECT
cc: Marc De La Roche/HOU/ECT@ECT, Bobby
Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Cairn Gas Purchase Bid
I talked to Vince after we hung up and his only suggestion was to call
Sandeep Kohli. I spoke with Marc and yourself four times on this matter over
a 3 day period and given the timing, I put forth a non-binding offer, after
discussing it further with Bobby, based on the information I had that appears
to position us close to our competitors offers. We haven't committed
ourselves and should we be selected for negotiations there are numerous
variables to affect the outcome. If you've got any suggestions for a better
deal, please advise.
Doug Leach@ECT
08/14/2000 07:45 AM
To: Douglas S Parsons/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Marc De La Roche/HOU/ECT@ECT, Bobby
Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Cairn Gas Purchase Bid
I strongly disagree with the pricing and structure of your non-binding offer
to Cairn. This reminds me of the debacle in Brazil. You should have contacted
Vince Kaminski's research group as we talked about before an offer was made.
This is a bad deal.
Douglas S Parsons@ENRON_DEVELOPMENT
08/12/2000 01:51 AM
To: Doug Leach@ECT, Marc De La Roche@ECT
cc:
Subject: Cairn Gas Purchase Bid
Doug & Marc,
FYI, please let me know if you think we're totally off base. I appreciate
your help.
Regards,
Doug
---------------------- Forwarded by Douglas S Parsons/ENRON_DEVELOPMENT on
08/12/2000 01:48 AM ---------------------------
Douglas S Parsons
08/11/2000 06:24 AM
To: Bobby Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: F B Virani/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ujjwal
Dey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nilesh
Vaishnav/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Cairn Gas Purchase Bid
Bobby,
After meeting with Cairn today in Delhi, my perception is that our offer was
received well. They were more open and relaxed then they were on Wed.
morning and made several encouraging comments about our price range, (once we
talked through the price movements), and the seriousness of our gas related
activities on the West Coast of India, in light of the IOC agreement. I
think the overall package is attractive to them and no serious objections
were raised. We did talk to some extent about the guarantees, but we didn't
get too far and they're willing to accept at this point that what's
acceptable to the LNG suppliers, should be suitable for their needs.
However, they would like to understand the corporate structure and assets of
Enron Energy Marketing a little better and I told them I would get back to
them on that point.
David and Ajay were up in Hazira yesterday looking at some property for their
gas treatment facility, which apparently is across the road from pipeline
access. While there they went and looked at Shell's proposed LNG site after
walking the last 1 km, inaccessible to their 4wd vehicle and not surprisingly
found a beach.
In summary, here is what we offered on a non-binding basis:
Six year production plateau
85% TOP
$3.67/MMBtu Net, at a base of $18/bbl Brent, with point of sale at the
tail-end of the gas processing plant
Floor & Cap of $15.50 - $27.00/bbl
Price movement: +/- $1.00/ bbl from the $18/bbl base price (on a 3 mo.
rolling average) equals +/- $0.145/MMBtu fixed on a quarterly basis
Guarantees: Same protection we're providing the LNG suppliers under the
Trust Retention Account
I appreciate everyone's help in submitting this offer.
Thanks,
Doug | {
"pile_set_name": "Enron Emails"
} |
He requested 7000 for today, but then his shedule only addsa up to about a
6425 burn???
Looks like they will still be a little long by end of run. | {
"pile_set_name": "Enron Emails"
} |
Here is the information regarding the presentation done by AGENCY.COM.
The BEA Users Conference is being held in San Francisco, CA 2/21-2/24.
The conference has over 2,000 registered users representing many types of
companies.
About the Session and Presentation
On Wednesday, February 23 at 11:00 an hour long session was to open to any
registered conference attendee.
Around 200 (very rough guess) people attended the session.
The session was moderated by Scott Dietzen, CTO BEA Server Division and was
described as
'Web E-Commerce Solutions: Using Best of Breed Technologies'.
The session included 4 panel members from Calico Commerce (an ISV), Idea
Integration
(an integrator), Cygent (an ISV) and AGENCY.COM.
Each of the 4 panel members gave a 12 minute presentation then the session
was turned over
for general questions and answers.
Joe Tatem of AGENCY.COM went last and spoke about the web development
marketplace: where
it was and where it needed to head.
Like the other panel members he described his company and gave a little sales
pitch for
BEA Weblogic.
Tatem then presented a case study as an example of some of their work.
This example was of AGENCY.COM's work for Enron on EnronOnline.
His case study consisted of 2 slides.
The first slide had screen images of EnronOnline: one was the EnronOnline
home page and the
second was the quotes page populated with some products.
The quotes page was 'overlayed' on the home page and obscured the EnronOnline
banner on the
bottom so that only the 'ne' at the end showed.
The Enron logo (the counter-clockwise 45-degree logo was clearly visible.
He talked about it being a Trading Extranet site but said he could not name
the customer.
He described that real time prices for products were being displayed to
customers.
He then showed the next slide which gave a high level overview of the
application
architecture for EnronOnline.
This slide contains details about real time server (RTServer) and its
associated
application server (including the RMI communication mechanism).
He made a comment about how they were particularly proud of the real time
piece and how it
was designed and how it worked.
This slide also contained a reference to the fact EnronOnline uses Oracle 8i.
He also mentioned Jesica as the content management piece and indicated that
they were
looking at other 3rd party products to replace that in their future projects.
This slide also contains a reference to StackManager and he indicated that it
was developed
by the unamed client and not by AGENCY.COM.
He also talked about ShockWave plugin being used in the browser to receive
the
real time quotes.
Only one question was asked from the audience during his showing of the
technical
architecture slide.
This question (paraphrased) was: When you use RMI between the web server and
the
app server how many connections do you use.
He replied (paraphrased): one per thread.
The questioner then asked something else that I assumed was a technical
detail about how
WebLogic RMI worked.
Tatem replied incorrectly and a BEA employee responded with the right answer.
About the Handouts of the Presentation
BEA tried to make available hard copies of all presentation slides in each
session.
They setup a series of shelves that were numbered for each session.
The documents were available starting Monday during the registration process
and
throughout the conference.
On Monday evening I went to pick up hard copies of the sessions for which I
was interested.
About a third of the handouts for the sessions were not available.
I did not notice whether the one for above mentioned presentation was
available. (I did
not expect it to one of the more interested ones.)
During some of the sessions BEA handed out copies to those present.
I did not see any handed out during the above mentioned session.
After the session was over I called Jay Webb and told him of the above
details.
After telling Jay I saw Scott Dietzen from BEA in the hallway. (I had met him
twice before.)
I told Dietzen that the presentation that AGENCY.COM did in his panel was
about Enron.
(We had already discussed the project with Dietzen when he visited our
Houston office.)
I told him that AGENCY.COM was not supposed to reveal any information
concerning the
project.
At this time I did not know that hard copies of the presentation were
available. I told
Dietzen that if they did become available that the portion about EnronOnline
should not
be distributed.
Dietzen said he was not aware of the problem with discussing the project. He
apologized
and said he would not distribute any handouts if he received them.
Sometime later on Wednesday I went to the rack of presentation handouts and
there was
one available for the above mentioned session.
I do not know how long they were available (and I don't think Dietzen did
either).
There were only 2 or 3 copies left and I took all of them. (BEA usually put
out many
copies in the rack so I don't know how many were actually picked up.)
The hard copies are PowerPoint printouts that include room for notes so the
slides are
very small making it difficult to read.
When the slides were shown on the screen during the session they were very
clear.
Also, during some of the sessions (not the one where AGENCY.COM presented) I
attended
there was some question about the availability of the handouts and someone
from BEA would
answer something about the web.
I assumed that at some point in the near future they might be making copies
of the
presentations available on the BEA web site.
I will try to confirm this tomorrow (Thursday).
I checked the web site a few minutes ago and the presentations are not there.
I will followup with any more details if I remember something else or if
there are any
further developments.
Thanks,
Kevin Montagne
Voice: 713-853-1903
Cell: 281-703-5779
Pager: 800-893-4390 | {
"pile_set_name": "Enron Emails"
} |
Rob - I tried to conform this for the transformers only - please make any
changes you think we need. If none, would you let the group know so we can
get it out to WLB and Tim?
Thanks,
R. | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Nemec, Gerald
Sent: Monday, October 22, 2001 2:55 PM
To: Perlingiere, Debra
Subject: FW: Patina Oil and Gas Purchase
-----Original Message-----
From: Whitt, Mark
Sent: Monday, October 22, 2001 10:10 AM
To: Nemec, Gerald
Subject: Patina Oil and Gas Purchase
We are going to do a month to month interupptible purchase agreement with Patina Oil and Gas. The gas will be delivered into Lost Creek. The price will be Gas Daily Cig Midpoint index flat. The flows will vary daily depending upon well production. I am not sure if we have an interruptible purchase agreement with Kennedyl
Did Paul ask you to put together a wellhead purchase for Huber in the Powder River Basin? | {
"pile_set_name": "Enron Emails"
} |
Brian McKnight isn't too bad either. Although, overall, I was nto that
impressed with the schedule this year for either weekend. I wil however
still have the best weekend of the year.
PL | {
"pile_set_name": "Enron Emails"
} |
Junell,
Thanks for the pictures. You are the man. I'll be waiting for the rest of
them. Make sure to add Ben Rogers to your email distribution. I cc'ed him
on this so you'd have his address. I look forward to seeing you at the
wedding shower and the wedding if you can make it. Thanks again, buddy.
- Bryan
> -----Original Message-----
> From: Mark A. Junell [SMTP:[email protected]]
> Sent: Monday, June 05, 2000 10:35 PM
> To: Richard Paddock; [email protected]; [email protected]; Andrew Slocum;
> Brian Kimzey; Blake McWherter; [email protected]; Miguel Espinosa;
> [email protected]; [email protected];
> [email protected]; [email protected]; Adam Wexler
> Subject: Pics
>
> Ok, here is a little teaser to help you get through the day. When you
> look
> at these pics, remember that I have over 200 of them. YES!
>
> Oh, there are 2 different classes of pics. First, there are the standard
> pics (suitable for viewing on the web by everyone), and then there are the
> "private" pics. These are the ones that the girls will not see (for one
> reason or another). I have included pics from both groups. I'll trust
> you'll know which are which. Hehehehehe....
> << File: DSCN0031.JPG >> << File: DSCN0118.JPG >> << File: DSCN0172.JPG
> >> << File: DSCN0177.JPG >> << File: DSCN0078.JPG >> << File:
> DSCN0212.JPG >>
This message is for the named person's use only. It may contain
confidential, proprietary or legally privileged information. No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and all
copies of it from your system, destroy any hard copies of it and notify the
sender. You must not, directly or indirectly, use, disclose, distribute,
print, or copy any part of this message if you are not the intended
recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve
the right to monitor all e-mail communications through its networks. Any
views expressed in this message are those of the individual sender, except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity. | {
"pile_set_name": "Enron Emails"
} |
I will be out of the office Tuesday and Wednesday this week. I can be
reached at home (281-370-8568) or on my cell phone (713-417-1591) if
needed. I will be checking and responding to voice mail messages while I am
out as well.
In my absence, please contact the following persons regarding trading
operations issues:
Gas Operations Jeff Gossett x37306
Leslie Reeves x37962
Power Operations Jenny Latham x33982
Leslie Reeves x37962
DPR Shona Wilson x39123
MPR David Maxwell x36983 | {
"pile_set_name": "Enron Emails"
} |
Hello Everyone,
Each year, we have an opportunity to recognize a faculty member who has
distinguished him/herself among his/her peers. Faculty who receive the
Outstanding Teacher Award are recognized for this important accomplishment
by both the UC Berkeley Campus and the Haas School of Business. The award
really does mean a lot to the faculty members, so if you feel strongly about
a teacher's performance, I urge you to reward them with a nomination. Last
year's award went to David Levine (Core: Macroeconomics) with honorable
mentions to Michael Katz (Elective: Competitive Strategy) and Jonathan Berk
(Core: Finance). All teachers that receive nominations will be recognized
in the SAC Newsletter.
Thanks to those of you that submitted nominations from your Fall 2000
classes. We are currently soliciting nominations for Spring 2001 courses.
Just submit a written recommendation to me via e-mail based on the
guidelines listed below. Alternatively, you may submit a hard copy to the
Evening MBA office. Only nominations with a written explanation will be
considered. The more compelling your recommendation, the greater the weight
it will carry. The Spring 2001 nominations will be considered with the Fall
2000 nominations to determine the winner. Please try to have your
nominations in by April 9th.
Thanks, in advance, for your support of this important and prestigious
award.
Michael Plumb
Chair, Student Advisory Committee (SAC)
Michael Plumb
Director, Health Services Actuarial - Northern California
PacifiCare of California
925-602-1660 | {
"pile_set_name": "Enron Emails"
} |
Should we have an explanation of index calculation? It may build more trust
in the numbers. | {
"pile_set_name": "Enron Emails"
} |
Dear ClickAtHome Participant,
ClickAtHome is interested in making sure you have the latest security tools available to you. As part of the ClickAtHome program, you may download and update Norton Anti-Virus and BlackICE Defender software from the ClickAtHome Portal.
Norton AntiVirus software repairs computer virus infections automatically. It scans and cleans your hard drive, diskettes and both incoming and outgoing email.
BlackICE Defender is an industrial-strength anti-hacker system that protects your PC by scanning your DSL, cable modem, or dial-up Internet connection looking for hacker activity. When it detects an attempted intrusion, it automatically blocks traffic from that source, keeping intruders from accessing your system.
By installing and updating both Norton AntiVirus and BlackICE Defender, your ClickAtHome PC will have the latest security offered by these two products.
Instructions for accessing the Portal and downloading the software are provided below.
If you have any questions or wish to provide feedback, please email [email protected]. Thank you for your participation in ClickAtHome.
The ClickAtHome Team!
__________________________________
To download the software:
1) Visit the ClickAtHome Portal at www.clickathome.net from your ClickAtHome PC.
2) Logon to the Portal with your personally created Portal User ID and Password, or create a new account if you have not created a user ID and password by selecting "Create a NEW Account" at the top left corner. The Portal User IDs and Passwords are created by you. The Enron Help Desk is not able to assist with Portal support, but if you need any assistance, please send an email to "[email protected]".
3) Once you have logged on, select "Tools" from the top menu bar.
4) Under the "Secure Download" heading, click on "BlackICE" or "Norton" and log on to the download page using your SAP ID and Date of Birth.
5) Follow the directions provided on screen. | {
"pile_set_name": "Enron Emails"
} |
That must be frustrating. I've asked HR to address this problem.
-----Original Message-----
From: Reid, Byron
Sent: Wednesday, November 21, 2001 12:58 AM
To: PepSupport; Bryant, Mike; Bellard, Dannis; Corman, Shelley
Subject: entering names
Upon entering names and ALL the other info we are suppose to enter on submitting names for our evaluations I got a message saying "no records found matching your criteria". I tried a couple of names and got the same msg. Therefore I cannot start this process.
Byron Reid | {
"pile_set_name": "Enron Emails"
} |
The 8th is when we have plan reviews and the 14th is when the management conference begins in San Antonio-
-----Original Message-----
From: Smith, Ann
Sent: Wednesday, October 24, 2001 4:25 PM
To: Harris, Steven; Pavlou, Maria; Miller, Mary Kay; Kirk, Steve; Kilmer
III, Robert; Watson, Kimberly; Lokey, Teb
Cc: Porter, Gregory J.; Fossum, Drew; McCarty, Danny
Subject: TW v. SoCalGas (Dictation Draft from Greg Porter)
DICTATION DRAFT FROM GREG PORTER
I just spoke with Georgetta Baker, lawyer for SoCalGas, and Rick Miles, FERC's ADR group. We discussed the possibility of mediation based upon both parties representing in pleadings filed in Docket No. RP01-620 (TW Complaint) that both companies were interested in alternate dispute resolution (ADR). After discussing the various types of ADR, we agreed to begin with mediation. Rick Miles will be the mediator.
The mediation process that was discussed was an evolutionary one whereby parties would meet in a neutral location to discuss resolution (i.e., settlement) of its claims. Both parties indicated a willingness to settle. Rick Miles will act as a facilitator. Mr. Miles' function will be one of moderating discussions and not evaluative. As the mediation process continues without resolution, Mr. Miles' role will evolve. Later on, if the parties desire, Mr. Miles offered to bring in a FERC staffer that is a subject matter expert to offer his or her views of each party's case. Also, if the parties desire, the subject matter expert would indicate how he or she would recommend the Commission rule on the merits.
Initial dates of November 7-8 or November 13-14 were offered as potential dates for the first meeting. A neutral location needs to be agreed upon. Once additional information is learned, I will advise. In the meantime, if you have any questions, please do not hesitate to contact me. | {
"pile_set_name": "Enron Emails"
} |
Good Morning,
Exciting News!! We now have a new Portland Web based IT incident & tracking
application to replace the existing Westdeskitissues.mde Access application.
The new Web based solution adds several key enhancements that will hopefully
improve IT response time and improve our communications back to you when
problems are resolved.
Here are some of the key enhancments:
1. Ability to query outstanding & resolved issues.
2. IT problem/resolution knowledge base.
3. Web page that displays important IT contact information.
4. Automatic email notifications to resolution team members.
4. And much, much, more.
For those of you who may be new to the office, or may have forgotten about
the old Westitissues.mde application. This application is continuously
monitored by the production support team for infrastructure (PC's, Monitors,
terminal-server, LAN, WAN, etc) and application (Enpower, Portcalc, CAPS,
etc.) problems or enhancements requested by users. This database is also
summarized to capture metrics which are then used to evaluate the performance
of the IT group.
Here are the steps to using the new West Desk Problem Tracking System:
New Login:
1. Go to http://westdesksupport/
2. Click the Login button towards the bottom of the page.
3. In the UserName Box, Enter: ITWD.
4. For the Password type in: Password.
5. On the next Screen, fill out all the information. (Only certain fields are
required, but filling out everything is preferable)
6. After Clicking the submit button, you are going to be asked to login with
the new username and password you created in the New User Area.
7. Upon submitting, you will come to the main index page.
Adding a WorkOrder:
1. On the Main index page, click on the link add incident to log under the
heading of West Desk Links.
2. Fill out as much information as possible. For IT Contact, please enter
appropriate contact, or if you are not sure, select mtully.
3. Select Priority. (This may be changed by IT)
4. Submit form.
Note: For the description and response fields, you may use html tags for the
formatting of text for display.
The rest is pretty self explanatory. If you hover your cursor over a link or
picture or text box, a texttip will appear and tell you what that link or
textbox is for.
Thanks,
Mike Tully
Trading Floor Support
P.S. When entering a incident, there are two different types of "NEW
Requests". One is New Request (Problem). This is used for reporting an error
or problem with an application. The other is New Request (Enhancement) which
is used for requesting an enhancement to an application. | {
"pile_set_name": "Enron Emails"
} |
We should talk to commercial people and amonst our group to see if/how we should cover this new found agency. GAC
-----Original Message-----
From: Susan R. Schneider [mailto:[email protected]]
Sent: Saturday, September 15, 2001 12:22 AM
To: [email protected]
Subject: Power Authority info
5061 Knightswood Way Granite Bay, CA 95746 Phone (916) 797-3106
A California Limited Liability Company
How to have information about the new California Power Authority delivered directly to your e-mail address<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
QUICKLY, CONVENIENTLY, AND ECONOMICALLY
The California Power and Conservation Financing Authority (the "Power Authority") is an important new player in California's energy markets. Created by the State Legislature with $5 billion in bonding authorization, the Power Authority has the ability to acquire generation, transmission, and demand-side resources to lower electricity prices to consumers.
The Authority plans to procure up to 3,000 MW of resources for operation next summer, with a longer-term target of close to 5,000 MW (greater than the peak demand of San Diego Gas and Electric). Already, the Authority has received proposals for over 115 generation and conservation/load management projects, and competitive RFPs are planned in the near future for central-station and on-site photovoltaics, central-station solar thermal plants, fuel cells, and micro-turbine resources. A proposed Bolivian LNG project could also make the Authority a major gas-market participant (up to 1.5 Bcf/d).
Clearly, this new agency will have a significant impact on California's energy markets. The pace of activities will be very fast, and staying informed will be critical for anyone in the energy industry.
Generally, that will require multiple trips to Sacramento, numerous hours attending Power Authority meetings, and downloading and wading through technical and other documents. Phoenix Consulting is offering an economical and efficient alternative - a new service, California Power Authority Letter (CAL-PAL), that can save you that time and effort by sending timely, critical information directly to your e-mail address with no effort at all on your part.
Modeled after our popular KNOW THE ISO reporting/analysis service, CAL-PAL service will include:
(1) Advance notice of important Power Authority decisions;
(2) Concise, accurate, plain-English reports about Power Authority meetings and documents (e.g., competitive RFPs), within 2 days; and
(3) Free Phoenix Consulting services, such as information and advice about Power Authority issues or other aspects of California electricity and natural gas markets.
ALL THIS IS INCLUDED IN THE CAL-PAL SERVICE PACKAGE FOR LESS EACH MONTH THAN THE COST OF A SINGLE HOUR OF CONSULTING SERVICES.
Finding out more is quick and easy
To receive additional information about CAL-PAL service no cost or obligation to you, just click on the "Reply" and "Send" commands on your computer screen. We'll send you promptly a full description of CAL-PAL features, along with cost and other subscription information.
I look forward to hearing from you, and to being your "eyes and ears" at the Power Authority.
Susan Schneider
Principal, Phoenix Consulting
(916) 797-3106 office
(916) 804-9514 cellphone | {
"pile_set_name": "Enron Emails"
} |
Hi Vince- I just got off the phone with RW and Enron London.
Alec told me that Howard is idle and waiting for your command and the
coordination of the directors.
Melanie is working with Vuthy RW directly on this for you and Rachel Quirk
said she will contact you to set the time up..."Unofficially" they were
trying to do something with Howard tomorrow as I was told- not sure.
I have a couple other candidates I would like to send you after I collect
some sleep ( 3;30 AM now)- I'll send them to you after I wake.
One guy from Oxford, Worked Citibank Fixed Income risk the other over at Ford
Motor Company who is looking to move to London (highly recommended by the
professor).
I'll send them later as to let you be the judge.
Talk soon- thanks for the business!
Jeff
ALWAYS HELD IN STRICT CONFIDENCE.
Jeff Wesley
949 813 2241 Hotline
347 487 8957 Voice/Fax US
+44(845)3341644 UK
* Get free, secure online email at http://www.ziplip.com/ * | {
"pile_set_name": "Enron Emails"
} |
Some comments from Tim on the outline
Because the prices are based on L3Day NYMEX prices, when two out of three
prices have already been posted, it is impossible for parties to hedge their
risk for November. [For your information but not for the filing - We have a
big position for November so we need to get this pushed off until December or
we could lose alot of money].
By basing the caps on heat rates from 1999, the ISO assumed that this was the
proper test period. This is not a good test year given that generators lost
alot of money in 1999.
From: James D Steffes@ENRON on 10/27/2000 11:09 AM CDT
To: [email protected], [email protected], Joe Hartsoe/Corp/Enron@ENRON,
Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mary
Hain/HOU/ECT@ECT, Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Pleading to Stop ISO
Here is the outline of some points to make in the filing today. | {
"pile_set_name": "Enron Emails"
} |
Sara,
E-mail: [email protected]
Address: Diagonal 80, 1001
La Plata 1900
Argentina
Phone: 54221.4292309
Fax: 54221.4292205
Rolo
Sara Shackleton@ECT
11/12/99 12:05 PM
To: Rodolfo Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff
Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EDEN Deemed ISDA
Rodolfo and Jeff: Would you please e-mail the name, address, fax and phone
of the person or persons to whom this Deemed ISDA should be directed. We'll
be ready to send this out shortly. Thanks. Sara
P.S. I have a conference call for the next hour. If you have any
questions, please call Marie Heard at EXT. 33907 or call me after 11 am
Houston time. | {
"pile_set_name": "Enron Emails"
} |
good morning!
just wondering if you've talked to Gas Daily yet and if you need anything
more from me...also, i'd like to see what you're going to give to them (G.D.)
with regard to facts about the products, EOL, etc... we'd like to launch the
products on Fri and have the article appear on Mon because the audience
should be bigger than Fri.
fletch | {
"pile_set_name": "Enron Emails"
} |
Everyone,
Carla Hoffman informed me on Friday that she has accepted another position
outside the company. I would like to thank her for all she has done for
Enron West Power over the years and wish her the best on her new endeavors.
Thanks,
Jeff Richter
Short Term California Desk | {
"pile_set_name": "Enron Emails"
} |
Please see my previous email on the above counterparty regarding limiting to
ERCOT products, which apparently we are unable to do, in such circumstances
limiting to East Power is the next best we can do.
----- Forwarded by Marcus Nettelton/NA/Enron on 03/27/2001 02:54 PM -----
Wendy Conwell
03/27/2001 02:47 PM
To: Marcus Nettelton/NA/Enron@ENRON
cc:
Subject: Lubbock Power & Light
Water Guidroz, our EOL administrator will effect the change in status for
Lubbock Power & Light to allow them to only trade "East" power only as we can
not just designate ERCOT in the EOL system. Additionally, tenor will be
limited to 3 months.
Regards,
Wendy | {
"pile_set_name": "Enron Emails"
} |
Bill,
To complete the information I provided to you yesterday, the name of the electric utility providing electric service to Transwestern's Bloomfield, New Mexico compressor station is: The City of Farmington Electric Department.
In addition, although not required for a Transwestern bankruptcy filing, the name of the electric utility providing electric service to Northern Natural's Hubbard, Iowa compressor station is: Midland Power Cooperative. | {
"pile_set_name": "Enron Emails"
} |
Excellent but somewhat disconcerting article discussing legal trends towards
creating 'borders' on the web akin to the physical world legal realities.
Also, good bits on geolocation software and the like. Obvious implications
for EnronOnline and other Net Works sites going forward.
Welcome to the World Wide Web. Passport, Please?
By LISA GUERNSEY
Suddenly, the seemingly borderless Internet is ramming up against
real borders. Jurisdictional laws could mean that online publishers
decide either to keep some material off the Internet entirely or to
install online gates and checkpoints around their sites.
http://www.nytimes.com/2001/03/15/technology/15BORD.html?searchpv=site01?ex=98
5733155&ei=1&en=0cc8e6db563a0cc5
/-----------------------------------------------------------------\
Visit NYTimes.com for complete access to the
most authoritative news coverage on the Web,
updated throughout the day.
Become a member today! It's free!
http://www.nytimes.com?eta | {
"pile_set_name": "Enron Emails"
} |
Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
Tuesday, February 5 2002 No. 927
Visit: http://www.enerfax.com to view our web version or for Oil Prices & News http://www.enerfaxgold.com
PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce | 2.04 |
| ANR SE | 2.12 |
| Carthage TG | 2.11 |
| Chicago Citygate | 2.17 |
| Columbia Gulf Onshore | 2.17 |
| Dominion South Point | 2.37 |
| Henry Hub | 2.18 |
| Houston Ship Channel | 2.16 |
| Katy Hub | 2.10 |
| NGPL LA Pool | 2.12 |
| NGPL - Midcontinent | 2.05 |
| NGPL STX | 2.07 |
| NGPL TX/OK | 2.09 |
| NNG Demarc. | 2.12 |
| Niagara | 2.41 |
| Sonat Tier 1 | 2.13 |
| TCO IPP Pool | 2.28 |
| Tetco ELa | 2.13 |
| Tetco M-3 | 2.64 |
| Tetco STX | 2.07 |
| TGP Zone 0 | 2.06 |
| TGP Zone 1 (500 Leg) | 2.13 |
| TGT Zone SL | 2.16 |
| New York Citygate | 2.93 |
| Transco Station 65 | 2.21 |
| Transco Zone 6 (NY) | 2.92 |
| Trunk ELa | 2.11 |
| Western Region
| California Border | 2.17 |
| El Paso Keystone | 2.04 |
| El Paso San Juan-Blanco | 2.05 |
| Waha Hub | 2.06 |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig) | 2.84 |
| Dawn Hub/Union | 2.28 |
| Northwest Stanfield | 2.00 |
| Wyoming Pool | 1.90 |
| Opal | 1.90 |
| PGT-Malin | 2.09 |
| Sumas | 1.97 |
Flow Date 2/5
-------------------------------------------------------------
NATURAL GAS FUTURES
Henry Hub
12 Month Strip 2.5016 -0.0140
18 Month Strip 2.6023 -0.0098
| Month | High | Low | Close | Change |
| MAR | 2.150 | 2.080 | 2.117 | -0.021 |
| APR | 2.215 | 2.150 | 2.184 | -0.014 |
| MAY | 2.270 | 2.220 | 2.252 | -0.014 |
| JUN | 2.330 | 2.296 | 2.317 | -0.014 |
| JUL | 2.400 | 2.365 | 2.377 | -0.014 |
| AUG | 2.450 | 2.420 | 2.432 | -0.014 |
| SEP | 2.450 | 2.420 | 2.432 | -0.014 |
| OCT | 2.475 | 2.440 | 2.459 | -0.011 |
| NOV | 2.700 | 2.670 | 2.679 | -0.016 |
| DEC | 2.900 | 2.870 | 2.879 | -0.015 |
| JAN | 2.980 | 2.960 | 2.969 | -0.012 |
| FEB | 2.930 | 2.910 | 2.922 | -0.009 |
-------------------------------------------------------------
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-------------------------------------------------------------
Natural Gas Futures End Choppy Day Down
Natural gas for March delivery on the NYMEX ended down $0.021 yesterday at $2.117 per MMBtu. The April contract slipped $0.014 to $2.184 per MMBtu. The market opened lower, but bounced off $2.08. However, it could not get higher than $2.15, and failed to trigger anticipated buy stops above $2.17. Every rally is hit with a wave of selling. Look for the market to open lower again this morning. The AGA reports last weeks storage information tomorrow afternoon. Expect a withdrawal of about 120 Bcf 130 Bcf. Last week, 111 Bcf was withdrawn leaving 2.294 Tcf in storage. The nations storage facilities are still 70% full compared to 38% full a year ago. Natural gas for next day delivery across the US and Canada was generally flat to plus or minus $0.05 yesterday. Physical prices jumped higher in the Northeast. Utilities reportedly nominated base-loads for every day for February, intending to use the spot market only as weather dictates. Cash prices held as much as $0.08 $0.09! above the NYMEX. Natural gas for next day delivery at the Henry hub ended flat at $2.18 per MMBtu.
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-------------------------------------------------------------
Today's Power Bulletins
* Otter Tail Says 4th Quarter Operating Income Up 21%
* AEP Hires Schroder Salomon Smith Barney and ABN Amro for UK and Australia Sales
* PricewaterhouseCoopers Says Enron Europe Has Billions of Dollars of Liabilities
* JP Morgan Chase Advises Investors to Ooverweight Calpine Bonds
* AFL-CIO Asks SEC to Bar Enron Directors from Boards
* Chairman of Russian Giant Unified Energy Systems Seeks Linking Grid with Europe
* Sempra Energy Trading Completes Acquisition of Enron Metals Limited for
$145 Million in Cash
* Bush Administration Proposes 19% Increase in Spending for Salmon Recovery in the Northwest
* Alliant Energy Resources Completes Exchange Offer for $300 Million of 7% Senior Notes Due 2011
-------------------------------------------------------------
DO YOU JUST SEE TREES? WE SEE A FOREST!
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WSJ Says Enron Officials Knew About Chewco Partnership
Top Enron executives, including Chairman Lay and former CEO Jeffrey Skilling, knew about the controversial partnerships, according to the Wall Street Journal, citing minutes from a November 5, 1997 meeting. Former CFO Andrew Fastow and several board members including external director Herbert Winokur Jr were also at the meeting that discussed Enron's partnership Chewco, named for the Star Wars character Chewbacca. Chewco, which was supposed to be completely independent, but was run and partly owned by Enron executive Michael Kopper, who also attended the meeting. Federal investigators and private litigants are trying to find out who knew what about Chewco and when. An attorney for Winokur says the executive committee was told that Chewco was a special-purpose vehicle not affiliated with the company. The board never waived the conflict-of-interest policy for Kopper nor was the board told that Kopper was involved with Chewco.
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-------------------------------------------------------------
Natural Gas NYMEX Volume
02MAR 28,386
02APR 6,782
02MAY 2,853
02JUN 1,156
02JLY 1,787
02AUG 1,270
02SEP 1,360
02OCT 2,160
02NOV 1,238
02DEC 1,213
03JAN 1,710
03FEB 1,558
03MAR 130
03APR 57
03MAY 36
03JUN 179
03JLY 54
03AUG 827
03SEP 203
03OCT 62
03NOV 125
03DEC 84
04JAN 19
04FEB 52
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--------------------------------------------------------------
Lay Breaks Date with Congress After Report Issued
Enron attempted to systematically manipulate its financial results and deceive shareholders as top executives made personal gains of millions of dollars, according to William Powers, dean of the University of Texas Law School in testimony to be delivered before Congress yesterday. There was also failures in the performance of Enron's outside advisors. And there was a fundamental default of leadership and management, starting with former CEO Ken Lay and reaching to the board and senior managers. As Congress begins a week of hearings, the House Financial Services capital markets subcommittee also heard from SEC Chairman Harvey Pitt. Powers joined the Enron board to investigate events leading up to the company filing for bankruptcy on December 2nd. He has issued a 218-page report that found Enron fattened its profits by almost $1 billion through a web of financial partnerships used to hide losses, while top managers made millions of dollars they should never have received. ! He laid some of the blame for on Lay and of Jeffrey Skilling. Powers said former ex-Enron CFO Andrew Fastow made at least $30 million, while former senior executive Michael Kopper made at least $10 million through their involvement in off-the-books partnerships. Enrons board of directors failed in its duty to provide leadership and oversight and in the end, the tragedy could and should have been avoided, Powers said. After the report was released, Lay canceled plans to testify before a Senate committee and before the capital markets subcommittee.
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-------------------------------------------------------------
PHYSICAL POWER PRICES
| | High | Low | Average |
| | $/MWh | $/MWh | $/MWh |
| Cinergy | 24.00 | 20.15 | 21.90 |
| ECAR | 23.00 | 19.00 | 20.40 |
| ERCOT | 21.00 | 18.50 | 19.10 |
| Entergy | 21.05 | 20.00 | 20.50 |
| TVA | 24.00 | 21.00 | 22.55 |
| ComEd | 23.50 | 21.50 | 22.60 |
| Nepool | 30.80 | 29.80 | 30.15 |
| PJM West | 22.75 | 21.75 | 22.00 |
| Main | 23.25 | 20.00 | 22.15 |
| MAPP | 23.75 | 20.25 | 22.30 |
| Palo Verde | 24.00 | 23.00 | 23.75 |
| Mid C | 21.00 | 19.00 | 19.60 |
| COB | 24.00 | 22.00 | 22.60 |
| 4 Corners | 24.25 | 23.25 | 23.90 |
| Mead | 25.75 | 24.00 | 24.95 |
| NP 15 | 25.25 | 23.50 | 24.25 |
| SP 15 | 25.25 | 23.50 | 24.45 |
-------------------------------------------------------------
AEP May Sell Some Foreign Assets
American Electric Power may sell Seeboard, which serves 2 million power and natural gas users in the UK, and CitiPower, an Australian retail and distribution unit, to lower debt as it switches its focus to wholesale markets and away from household power supply. Like Reliant and Mirant, AEP is selling foreign assets to protect its credit ratings. Enrons bankruptcy has caused many energy companies to slash capital spending and sell assets to lower debt. AEP has $2.6 billion in debt maturing in the next 2 years. Seeboard is valued at about $2.1 billion and CitiPower at as much as $760 million. AEP, which acquired Seeboard in a $10 billion buyout of C&SW, said will consider all potential options for Seeboard. AEPs 4th quarter earnings fell 41% due to mild weather. It is selling common stock and convertible preferred shares to raise cash and shore up its balance sheet. Last year, AEP sold Yorkshire Power in the UK and purchased 2 power stations. AEP has also been expanding it! s energy trading business after Enrons collapse. It bought Enron's Scandinavian businesses and hired 22 coal traders from Enron. Seeboard is likely to fetch a good price since it is the only supply business for sale in the UK. E.ON, Electricite de France and Scottish & Southern Energy have been named as likely bidders for Seeboard. CitiPowers sale will probably happen in the 3rd quarter, according to AEP. Possible buyers could be Australian Gas Light, United Energy and Origin Energy. AEP bought the retail and distribution company for $1.1 billion in 1998.
-------------------------------------------------------------
OPEN SEASON
SG Resources Mississippi, L.L.C., a wholly owned subsidiary of SGR Holdings, L.L.C., is conducting an open season for firm storage services at its new high-deliverability, salt cavern, natural gas storage facility, known as the Southern Pines Energy Center. The open season will begin at 9:00 a.m. CDT on February 4, 2002, and will continue until 5:00 p.m. CDT on March 4, 2002. The project is located at the border of Mississippi and Alabama with access to the major pipelines serving the Mid-Atlantic and the Southeastern United States. The facility is ideally located to serve as a transportation and storage hub for shippers on any one of nine major pipelines that will be interconnected directly or indirectly to the project. Information on the facility and the Open Season is available on our web site at http://www.sgr-holdings.com
or contact us at 713-914-8188.
-------------------------------------------------------------
Todays Gas Bulletins
* Ken Lay Quits Enron Board as Congress Investigates
* Maritimes Seeks FERC Approval of $250 Million Pipeline Expansion Into Northeast
* World Natural Gas Producers Discuss Joint Ventures at Algeria Meeting
* Three Hearings Scheduled for Today; One Involves Enron Board Member William Powers Who Will Testify Before House Energy and Commerce Committee's Oversight Subcommittee
* Dynegy Says It Did Not Cause Enrons Bankruptcy; Says Enron Has Only Itself to Blame
* Internal Enron Report Could Aid Prosecutors
* Justice Department Says Enron Special Counsel Not Needed
* Raymond James and Associates Boosts Natural Gas Price Estimate for 2nd Half of Year in Anticipation of Robust Demand Recovery
* Enbridge Buys Texas Natural Gas Gathering and Processing Assets from Sulfur River Gathering for $178 Million
* Williams Communications Posts Loss; Banks Warn of Default
* Ex-Enron CEO Skilling Still Plans to Testify
------------------------------------------------------------
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-------------------------------------------------------------
Williams May Sell Midwest Oil Products Pipeline
Williams may sell its 8,000-mile Midwest oil products pipeline and storage depots for between $500 million and $1.5 billion, to help defray costs from possible exposure to $2.4 billion from Williams Communications. Last week, Williams postponed the release of 4th quarter results to review costs associated with Williams Communications Group, which was spun off in April. Williams said that those costs will be included in the 4th quarter earnings report. Williams Energy Partners which is 60% owned by Williams has been mentioned as a likely buyer for the pipeline. Williams has sold securities and cut capital spending to shore up its balance sheet amid heavier scrutiny by credit rating agencies following Enrons bankruptcy. Williams 7.5% coupon bonds maturing in 2031 were down about $44 to $879 per $1,000 face value from $923 last week, with the spread above US Treasuries climbing to 330 basis points from 285. None of the rating agencies has downgraded Williams debt yet, but S! ?has says it may lower Williams ratings because of concern about the company's finances. S?rates Williams BBB+, Moody's rates it Baa2 and Fitch rates it as BBB, all investment grade. Williams is aiming complete the Midwest pipeline sale by the end of the 2nd quarter. Net income for Williams Energy Partners more climbed to $21.7 million from $3 million a year ago. It also raised quarterly payment to unit holders by 12% to $0.59. The possible purchase of the Midwest pipeline could be financed through a combination of debt and equity, Williams Energy Partners said. The partnership has $140 million in private debt. Williams said its 4th quarter loss had widened and its banks have warned that the it may be in default of their credit agreements. Williams stock dropped 13.9% yesterday, down 2.64 to 16.36.
-------------------------------------------------------------
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-------------------------------------------------------------
POWER FUTURES
| Month | COB | Change | PV | Change |
| MAR | 19.25 | +0.00 | 21.35 | +0.10 |
| APR | 19.75 | +0.00 | 22.25 | -0.25 |
| MAY | 19.50 | +0.00 | 23.75 | -0.75 |
| JUN | 20.00 | +0.00 | 26.75 | -0.75 |
| JUL | 26.50 | +0.00 | 37.25 | -0.25 |
| AUG | 38.00 | +0.00 | 42.50 | +0.00 |
| SEP | 26.00 | +0.00 | 33.00 | +0.50 |
| OCT | 24.00 | +0.00 | 28.00 | -1.00 |
| NOV | 24.50 | +0.00 | 27.00 | -0.50 |
| DEC | 26.00 | +0.00 | 27.50 | -1.00 |
| JAN | 30.00 | +0.00 | 28.25 | -0.25 |
| FEB | 27.50 | +0.00 | 28.00 | +0.25 |
| Month | Entergy | Change | Cinergy | Change |
| MAR | 19.80 | -0.20 | 20.90 | -0.40 |
| APR | 19.80 | -0.20 | 21.25 | -0.25 |
| MAY | 22.25 | -0.25 | 24.50 | +0.00 |
| JUN | 27.10 | +0.00 | 29.75 | -0.05 |
| JUL | 34.60 | -0.05 | 38.00 | -0.40 |
| AUG | 35.25 | +0.60 | 38.00 | -0.40 |
| SEP | 31.65 | +0.00 | 22.85 | -0.25 |
| OCT | 22.00 | +0.05 | 22.90 | -0.10 |
| NOV | 22.00 | +0.05 | 22.90 | -0.10 |
| DEC | 22.00 | +0.05 | 22.90 | -0.10 |
| JAN | 24.15 | -0.10 | 25.50 | -0.50 |
| FEB | 24.15 | -0.10 | 25.50 | -0.50 |
-------------------------------------------------------------
Power Futures
| Month | PJM | Change |
| MAR | 24.70 | -0.40 |
| APR | 25.20 | +0.10 |
| MAY | 28.25 | -0.30 |
| JUN | 34.75 | -0.50 |
| JUL | 46.10 | -0.25 |
| AUG | 27.05 | +0.00 |
| SEP | 27.05 | -0.05 |
| OCT | 26.05 | -0.05 |
| NOV | 26.05 | -0.05 |
| DEC | 26.05 | -0.05 |
| JAN | 30.25 | +0.00 |
| FEB | 30.25 | +0.00 |
-------------------------------------------------------------
Nymex Natural Gas Option Volatility
Supplied by "The Daily Hedger"
Futures Implied
Month Settlement Days Left Volatility
Mar $2.117 21 67.7%
Apr $2.184 49 57.7%
May $2.252 80 51.4%
Jun $2.317 113 47.3%
Jul $2.377 141 53.4%
Aug $2.432 172 48.8%
Sep $2.432 204 49.0%
Oct $2.459 233 54.9%
Nov $2.679 266 46.9%
Dec $2.879 294 57.6%
-------------------------------------------------------------
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THE LDC FORUM * WINTER OF 2002
April 18-19, 2002 - Boston, Massachusetts
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--------------------------------------------------------------------------------------------------------------------------
Lay Makes Himself Scarce
A congressional committee trying to serve a subpoena on former Enron Chairman Ken Lay can not seem to locate him. His personal attorney does not know where he is and would not accept the subpoena. The House of Representatives Financial Services Committee finds the whole situation quiet puzzling. Lay's attorney says he is ill and has no idea where Lay is. Lay resigned from Enrons board yesterday as two congressional committees vowed to force him to come before them to testify or take the 5th Amendment. He had been scheduled to appear before a House Financial Services subcommittee, but backed out over the weekend. It had hoped to compel him to appear today. Lay had also been scheduled to appear before a Senate committee, but canceled that date also.
-------------------------------------------------------------
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-------------------------------------------------------------
TRADERS DEBATE SHORT SIDE OF MARKET
Although Monday's price action on the New York Mercantile Exchange is perhaps best described as lackadaisical, some traders see inspiration to take the short side of the market where others are focusing on a longer term trend higher. "When the March contract expired (January 29), it got as low as $1.97 and developed a modest countertrend higher. As long as the market was able to continue trading above the previous day's low, that advance worked well," noted Dean Hazelcorn, trader with Coquest, Dallas. "Today looks like a sell signal. The high of the March contract did not exceed Friday's high and today's low was lower. That sets up a trade down to $1.97. I look for a slow deteriorating front end of the board," he noted. "I'm back in a bearish mode, and I think we're headed below $2.00. I believe that there is a 99% probability the market will work lower, but it may take 3 months to do it," he cautioned. Other traders are more optimistic. "Longer ter! m I'm bullish," says John Beaver, President Private Futures Group, Oklahoma City. "It's more difficult to be bullish on the front of the board, but looking at the charts it suggests that prices may be set to rise. There's a gap on the weekly chart between $2.17 and $2.20 on the weekly chart (week ending January 18, and January 25). and if prices could fill that gap, it would be a positive sign that prices were set to move higher," he said. A gap is a pattern on the price charts followed by market technicians. The idea is that the gap may act as a barrier to (in this case) further price advances. Once the gap is "filled", however, a potential limitation to price advances has been removed and prices would be empowered to move higher. "I don't have any interest in being short the market at the $2.00 level. I don't want to be in a trade that may only make 10 or 15 cents and have to worry about it," he said. "If you are a commercial trader are you going to get short at $1.85! ? What is your board of directors going to say?"
More observations and market forecasts in GasTrader Newsletter. Go to Subscribe to GasTrader.net to sign up for FREE five week trial.
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dropped 99.44 points to 7591.07
The CRB Index dipped 0.21 points to 189.30
The US Dollar decreased 0.88 points to 118.91
The Dow declined 220.10 points to 9687.09
The S?500 lost 27.76 points to 1094.44
The Nasdaq was down 55.71 points to 1855.53
March NYMEX Crude Oil fell 0.31 to 20.07
Canadian-US Exchange rose 0.0008 to 1.5915
-------------------------------------------------------------
Pure Text, Lotus, AOL, Yahoo, Excite, Readers-subscribe by writing to:[email protected]
Outlook Email Readers-subscribe to webmail by writing to:
mailto:[email protected]
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To view past issues of Enerfax Daily -Sign up for free at Divines Sagewave at
http://www.sagewave.com/D2/autolog/common/log.asp?KEY=enerfax
-------------------------------------------------------------
Please welcome our advertisers by visiting these websites.http://www.e-acumen.com http://www.kwi.com/ http://www.fea.com/ http://www.caminus.com/ http://www.progas.net/wip http://www.ziffenergyconferences.com/ http://www.epis.com http://www.rwbeck.com http://www.NewEnergyAssoc.com
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service . | {
"pile_set_name": "Enron Emails"
} |
Steve -
Here's a quick run down on activities from last week:
Enron Center:
Working with Clark and Hines to establish consensus on estimated
"floor-by-floor" occupancy schedule, given present progress of base building
work.
Received subcontractor bids on tenant improvements, levels 3-9. Bids are
very competitive and within budget targets.
Established bi-weekly meetings with Phillipe and IT team to co-ordinate
responsibilities, schedules, and budgets.
Setting up "trading desk" mock-ups/competition between leading furniture
makers. Selection Committee involves top executives from ENA, EGM, and
Networks.
Meeting with EES to discuss contractual relationship with Corp. for energy
infrastructure management of Enron Center when operational next year
Working with Global Strategic Sourcing and Enron's "DealBench" team to buy
Enron Center's carpet, lights, and ceiling system through their "reverse
auction" internet platform.
EI Asset Sale: "On hold" pending word from Corp. Development. Issues
outstanding include 3AC office space and corporate aircraft. We are also
holding on sublease with Azurix for their 3AC space, should EI's space needs
impact Azurix.
We are cancelling our contract with Barton, our present Enron Building's
outsourced security company. Replacement vendor, Wackenhut, is on site with
transition team.
Met with Bob McClaren of the Astros. Purpose was to explore Enron's interest
in development opportunities around Enron Field, given their present
disposition to ask us to not build the proposed garage.
Executed the purchase agreement for the Williams Hanger @ Intercontinental.
Have initiated inspections and due diligence efforts before closing next
month.
EGEP's move to 3AC is locked in for this coming weekend. Have been very
co-operative since their inclusion in the EI Asset deal. Subsequent
construction of EB levels 17 and 18, for Tax and IT, will begin immediately
with EGEP's move. All present demands for office space are being met or will
be satisfied as we execute agreed to master plan.
- Bill | {
"pile_set_name": "Enron Emails"
} |
Chris, where are we on gas interconnect? I am hearing rumblings of 15 year
Kern exposure - don't know if I like that.
Regards
Delainey | {
"pile_set_name": "Enron Emails"
} |
Norma,
No problem. I shall see you at 8:00 anyway.
Shirley comes at 7:00 and leaves at 4:00.
Vince
Norma Villarreal
12/07/2000 04:19 PM
To: Anita DuPont/NA/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Research PRC
Please make sure that Vince has the new location on his calendar - I think
Shirley is out of the office
---------------------- Forwarded by Norma Villarreal/HOU/ECT on 12/07/2000
04:07 PM ---------------------------
Ramona Perkins@ENRON
12/06/2000 05:38 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Norma Villarreal/HOU/ECT@ECT, Susan Wimberley/HOU/ECT@ECT
Subject: Research PRC
The PRC meeting for Research has been moved to EB 42C1. Please make the
necessary changes to Vince's calendar. Thanks. | {
"pile_set_name": "Enron Emails"
} |
Do you know what day it is?
I do . . . .it's the Legal Department Happy Hour TONIGHT, beginning at 5:00pm
at Ninfa's One Allen Center. BE THERE OR BE SQUARE!!!! See ya'll there. | {
"pile_set_name": "Enron Emails"
} |
Jeff --
I left you a voice mail message but didn't want to miss you.
I'm working on the whole direct access issue and wanted
to talk to you about 1) the PUC putting it on the June 14
agenda, and 2) how it would impact the MOU.
Give me a call if you have a chance,
Kate
---------------------------------------------
Kate Berry
Reporter
The Orange County Register
714-796-2235 w
714-240-6301 c
[email protected] | {
"pile_set_name": "Enron Emails"
} |
fyi... transcript of Gov. Davis' remarks in San Diego today.
---------------------- Forwarded by Karen Denne/Corp/Enron on 11/14/2000
04:19 PM ---------------------------
"sandra" <[email protected]> on 11/14/2000 04:02:48 PM
Please respond to "Sandra Yamane" <[email protected]>
To: <[email protected]>, [email protected],
[email protected]
cc:
Subject: GOVERNOR DAVIS CALLS ON FEDERAL ENERGY REGULATORY COMMISSION TO
ORDER CONSUMER
- GOVERNOR DAVIS CALLS ON FEDERAL ENERGY REGULATORY COMMISSION TO ORDER
CONSUMER REFUNDS AND PRICE CAPS.htm | {
"pile_set_name": "Enron Emails"
} |
Mike and Pam Alvord, 24 Annette Park Drive, Bozeman, MT 59715 406-587-3457. I told them you would arrive late and leave early. Just call if you are not going to make it there that evening, or they will cal out the search parties...ha ha Once a parent always a parent.
Nate Alvord
Director, Business Development
Enron Broadband Services
503-886-0316
[email protected] | {
"pile_set_name": "Enron Emails"
} |
Mary has this. Seeks $250 price caps against sellers into Cal. with market
based rates.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 08/03/2000
11:49 AM ---------------------------
"Jackie Gallagher" <[email protected]> on 08/03/2000 11:12:09 AM
To: <[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <robert.o'[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>
cc: "Jackie Gallagher" <[email protected]>, "Julie Simon"
<[email protected]>, "Mark Bennett"
<[email protected]>, "Samantha Slater"
<[email protected]>
Subject: San Diego Gas & Electric Complaint
Attached is the San Diego Gas & Electric Company complaint for your review.
In its complaint, SDG&E has requested that FERC make answers, motions to
intervene and protests due 15 days after the date of filing. Please contact
Mark Bennett with comments at 202.789.7200 or [email protected].
In addition, the docket number is EL00-95-000.
Jacqueline Gallagher
Research/Policy Assistant
Electric Power Supply Association
1401 H Street, NW
Suite 760
Washington, DC 20005
202.789.7200
202.789.7201
[email protected]
- 8 2 Complaint.doc
- APPENDIX A-E.DOC
- JUNJULdata.xls | {
"pile_set_name": "Enron Emails"
} |
James,
Please change the prices in Sitara for December 2001 as follows:
Deal No. POI Price
643945 23059 $2.21055
1057660 25412 $2.35241
1057660 96251 $2.35241
1057660 810160 $2.35241
1057660 23059 $2.35241
1057660 62137 $2.35241
Thanks,
Max | {
"pile_set_name": "Enron Emails"
} |
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Copyright 2001 by Bestfares USA Inc. All rights reserved. | {
"pile_set_name": "Enron Emails"
} |
I just sent you an email about 2 tickets @ face value. This email address is at my place of work. I'm leaving work early today so if you respond after around 2:00pm, send it to [email protected]. That's my home email. Thanks.
DG | {
"pile_set_name": "Enron Emails"
} |
I'm looking forward to your discussion regarding the "reregulation threat" at
the next meeting. Below are some of my observations:
While it's premature to say we have an energy crisis, we are witnessing the
triple threat of high summer gasoline prices, spiking electricity prices, and
high natural gas prices for the upcoming heating season (I'll send along some
of the data).
There is at least the potential for this to become a prominent national
political issue: Gore has focussed relentlessly on Bush's ties to "big oil"
(which includes us by the way, though we produce nary a drop); and
Congressional republicans have blamed the current administration for failing
to have a coherent energy policy (though, at least so far, the dominant
characteristic of the administration's policy has been a republicanesque
reliance on the market).
Notwithstanding the issue's potential to become political fodder and its
prominence in the popular press, many Americans seem blissfully ignorant, at
least on the electricity issue. We did some focus group testing recently in
Southern California -- a mere 15 minutes from the epicenter of the San Diego
price quakes -- and most people knew nothing about it. So, while the issue
has the potential for political traction, it may not have caught on yet
(except in places like San Diego and New York city.
The reaction in California has been to call for government intervention in
electricity markets. Investigations of out of state "price gougers and
profiteers" have been undertaken and wholesale and retail price caps have
been put in place. They have not worked -- at least in wholesale markets.
Suppliers are deciding to site plants elsewhere and when prices are high
elsewhere in the West, power flows out of California to those other markets.
Ironically, though I can't explain it in classical economic terms, the
setting of rate caps in wholesale markets has had the effect of pulling
prices up to the capped levels in offpeak times when there is more than
enough supply. For the most part, though, the caps and the other political
reactions have been somewhat muted: policy makers have been reluctant to
throw the deregulation plan out and start over, and the retail price caps
have been relatively narrow ... so far.
Outside of California, the authors of other states' deregulation plans have
distinguished their proposals from California's. Regulators and legislators
from such diverse places as Connecticut, Texas and Alberta have gone out of
their way to defend their plans and explain why "California won't happen
here." For the most part, then, the reaction to California has been positive
from Enron's perspective in states that have already deregulated. There does
remain some threat that aspects of the state plans (e.g. utility plant
divestiture) may be postponed or cancelled. The story is a bit more grim in
states that were considering deregulation but have not gone forward with
their plans: I think it's off the agenda in most places. The fact that most
of the major markets (about 70% of total electric revenue) are already
deregulated/deregulating is a blessing in that regard.
At the federal level there has been a combination of the "burn the village in
order to save it" approach -- allow some price caps to remove the pressure
to reverse the whole deregulation program -- and a more positive call for
comprehensive reform.
All in all, I believe we're OK so far and we need to look at this as an
opportunity: business is booming; we sell protection from price volatility
and the need for such protection is now plastered over the front pages of
major newspapers. On the public policy front we need to convert the
controversy into productive action. Our target has been FERC -- they are
somewhat removed from the white hot rhetoric in California and they are a
single commissioner's vote away from taking action to further open the
market.
Enron's response: Initially we hoped to feed information into industry
groups and let them carry the message; our concern was that Enron -- a
company which was in and out of the residential market in Cal. -- would not
make the most attractive champion for the open market message. We hoped that
the new generators in Cal would take up the mantle. It's fair to say that
they fumbled the ball: they are now locked in a pitched battle with the
utilities over price caps and fall all to easily into the out of state
profiteer label .... standing between Aunt Millie and rate relief. They were
also extremely slow out of the blocks with a more productive message. We are
now working the issue directly. We are working the issue on a number of
levels: 1) PR - we have good contacts in the press and have talked to
numerous reporters and editorial writers. As time goes on, the information
and reporting has gotten somewhat better. 2) Govt relations - we have been
pushing for power plant siting legislation in California (the market wants to
build capacity but the government won't let it). This may be the best
environment we'll ever see for streamlining the permitting process. Also, in
typical Enron fashion, we put a deal on the table. We offered to sell power
to the local utility at a price which would enable them to lock in stable
rates for their customers at below current rates. Our offer was followed by
nine others and we tried to make something of the fact that the market was
offering better solutions than California politicians. SDG&E dropped the
ball, unfortunately. Instead of seizing the opportunity, they ended up going
along with a government granted rate discount which will cause them to accrue
a massive deferral account. At the federal level we are contacting members,
the DOE and FERC. Here we are making a push for FERC action to finish
"leveling the playing field" in wholesale markets so power can get from where
it is to where its needed. Additionally, we are developing a prepackaged
system (including software) for nondiscriminatory open access (to take away
any lingering excuses or delays). 3) Overall messaging -- we have been
working with a well known political pollster to check our messages for their
resonance at the grassroots level. As we hone these messages we will be
using them in the fora we are currently working.
Overall, we have more opportunity than risk in the current environment, but
capitalizing on those opportunities continues to be a long shot.
An intersting rhetorical challenge for us is this: much of the problem in
power markets is blamed on high upstream fuel prices, particularly natural
gas. The gas market is open and structured pretty much the way we are
advocating for electricity, so how can we maintain that the problem in power
markets is an absence of open markets when the most open commodity market on
the planet (natural gas) is producing such outsized prices? The answer is
somewhat complicated and therefore a bit unsatisfactory in the current
debate: gas prices are still lower in real terms than they were
pre-deregulation; long term prices are also lower than historical levels (
the curve is "backwardated" (sp?) meaning that prices in later years are
lower than today so you can buy gas for 3 years at a price lower than current
spot prices); and the economy is booming and driving up demand for basic
inputs (this begs the question: why didn't the market react sooner and avoid
the spike?). When all else fails, a big part of the problem can be blamed on
OPEC. We haven't had this thrown at us yet, but we are trying to anticipate
it and have answers at the ready.
This is just the tip of the iceberg. The issue is a great example of the
intersection of our business interests with public policy debates and should
promote a lively discussion when we get together. Let me know if there is
anything else you need. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Larry May/Corp/Enron on 04/10/2001 11:35
AM ---------------------------
Enron Energy Services
From: Roger Reynolds @ EES 04/10/2001 11:31 AM
To: [email protected]
cc:
Subject: Derivative Pricing
---------------------- Forwarded by Roger Reynolds/HOU/EES on 04/10/2001
11:30 AM ---------------------------
Christopher L Connolly
04/10/2001 11:01 AM
To: Roger Reynolds/HOU/EES@EES
cc:
Subject: Derivative Pricing
Mark Jackson needs unwind cost for 11:00 am conference call.
Thanks
Chris
---------------------- Forwarded by Christopher L Connolly/HOU/EES on
04/10/2001 11:00 AM ---------------------------
Mark Jackson
04/10/2001 10:57 AM
To: Christopher L Connolly/HOU/EES@EES
cc: Martin Rodgers/HOU/EES@EES, Barbara Kortes/HOU/EES@EES
Subject: Derivative Pricing
Hi,
We are looking for the following:
EES sells/OC buys a $3.850 NYMEX put swaption for Jan 2002-Dec 2002 expiring
Dec 26, 2001 on 700,000 mmbtu per month. (We need ENA's offer)
EES sells/OC buys a $3.750 NYMEX put swaption for Jan 2002-Dec 2002 expiring
Dec 26, 2001 on 180,000 mmbtu per month. (We need ENA's offer)
EES buys/OC sells a $3.500/$3.000 NYMEX put spread for Apr 2002-Oct 2002. (a
strip of monthly options) on 880,000 mmbtu per month. (We need ENA's bid)
Please call me if you need more info. We need to get the pricing together
within the hour for a phone call with Leff & Delainey.
Thanks very much.
Mark | {
"pile_set_name": "Enron Emails"
} |
Sandeep:
I understand from Mark Taylor, another lawyer within ENA Legal, that you are
inquiring about coal trading contract forms for possible use in India. Mark
is currently travelling, but received an e-mail from you directed to him by
Rob Walls. Unfortunately, Mark was not able to forward me your previous
e-mail from his current location. My group within ENA Legal is responsible,
among other things, for the coal trading matters. Could I ask you to give me
a sense of what Enron India's plans are in this area so we can better assist
you with your request?
Regards, Alan | {
"pile_set_name": "Enron Emails"
} |
We are double checking your work and this is what I have on my swing worksheet.
Day May Volume GD GD +.10 Amount
3 1196 3.665 3.765 4383.34
4 1479 3.73 3.83 5664.57
8 692 3.51 3.61 2498.12
17 2000 3.455 3.555 7111.00
Total 5367 $19,657.03
I'm using the Zone 2 gas daily. Are you using a different gas daily? Let me know where the differences are. Also, would you let me know what days we did not get the baseload gas please.
thx
-----Original Message-----
From: Doner, Max
Sent: Wednesday, June 12, 2002 10:42 AM
To: Polsky, Phil
Cc: Germany, Chris; Dhont, Margaret; Cash, Larry
Subject: City of Tallahassee Payment for May 2002
Phil,
Per your request, enclosed is the breakdown for the payment expected from the City of Tallahassee on June 25th.
Base Volume $1,260,885.78
Swing Volume $ 19,733.45
Total Due $1,280,619.23
Thanks,
Max | {
"pile_set_name": "Enron Emails"
} |
Group,
When doing imports and exports at tie points for other desks, be sure to put the other desk as the Customer in CAPS. This prevents inappopriate charges going against the real-time book. Import and Export fees are typically in the nature of $5 per mm on a wheel.
Thanks,
Bill | {
"pile_set_name": "Enron Emails"
} |
print
----- Forwarded by Steven J Kean/NA/Enron on 10/16/2000 10:26 AM -----
Ann M Schmidt
10/16/2000 08:26 AM
To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Elizabeth
Linnell/NA/Enron@Enron, Mary Clark/Corp/Enron@ENRON, Laura
Schwartz/Corp/Enron@Enron
cc:
Subject: Enron Mentions
A Trio of Little Guys
Embarks on Wild Ride
In Global Oil Market
---
Pursuing Business With DOE,
Their Paths Diverge; One
Leads to `a Lot of Money'
By Wall Street Journal staff reporters John Fialka in Denver, Alexei
Barrionuevo in Tallahassee, Fla., and Jonathan Weil in New York
?
10/16/2000
The Wall Street Journal
Page A1
(Copyright (c) 2000, Dow Jones & Company, Inc.)
Lance Stroud of New York, Renard D. Euell of Denver and Ronald Peek of
Tallahassee, Fla., all had dreams of becoming oil barons. And on Oct. 4, when
the Department of Energy announced the results of the bidding for oil from
the nation's Strategic Petroleum Reserve, they thought their ships had come
in.
Two of the three black entrepreneurs were unknowns in the industry, and none
of them had ever done a major oil deal. But there they were, listed as
winning bidders alongside some of the biggest names in the business --
Marathon Ashland Petroleum LLC, Morgan Stanley Dean Witter & Co., BP Amoco
PLC and Amerada Hess Corp. Each would be given the right to withdraw millions
of barrels of oil from the reserve amid one of the most volatile oil markets
in decades. In exchange, each had offered to replace that oil, plus an
additional amount akin to an interest payment, a year later. They and the
other winning bidders, the Energy Department said, were picked soley because
they pledged to return the biggest quantities of oil to the reserve.
There was just one catch: In its rush to release the oil and so ease a price
crunch, the Energy Department had suspended its usual requirement that each
bidder supply financial guarantees. But it wanted the winning bidders to
present letters of credit, equal to the oil's market value, five days after
their bids were submitted. The big players could easily meet that
requirement. But Messrs. Stroud, Euell and Peek were men of limited means.
They needed to find someone willing to back them for tens of millions of
dollars -- and fast.
The drama made for an unaccustomed scene in Harlem, where the 35-year-old Mr.
Stroud lived with his 74-year-old mother. A heavy-set man with a goatee, Mr.
Stroud, a former Army enlisted man who had dropped out of college shy of
graduation, had held a string of odd jobs while using the Internet to seek
out a big business deal.
The aspiring oil man had entered his bid for four million barrels from the
reserve, via the Internet. He won't discuss the details of his bid, but says
he thought he could outbid the large oil companies because he didn't have as
much overhead. After the winning bids were announced, Mr. Stroud became
something of a celebrity. TV news crews arrived to interview his neighbors,
many of whom had no idea what all the fuss was about. "I thought he [Mr.
Stroud] was some kind of rap star," recalls Carline Thomas, who lives down
the hall from him.
As neighbors paused to shoot the breeze on the steps of nearby residential
buildings, most marred by graffiti, Wall Street couriers bearing fat packets
of information spent the week scurrying back and forth from Mr. Stroud's
apartment on a seedy block in Harlem's central business district.
Inside Mr. Stroud's apartment, the telephone wouldn't stop ringing, and his
mother was helping him field the calls. He says he was in serious talks with
four companies. And a movie producer was interested in his life story. Then,
amid the chaos, tragedy struck. On Tuesday night, his mother, Iris Manning,
suffered a cardiac arrest, and was taken to a hospital a few blocks south of
Mr. Stroud's apartment.
Mr. Stroud said he spent most of Wednesday running between his apartment and
the hospital, taking occasional phone calls to deal with prospective
financiers. Ms. Manning went into cardiac arrest three more times, and died
at 9:47 p.m. Wednesday evening.
Mr. Stroud was dazed by the fact that what he called the two biggest events
of his life -- the death of his mother and his selection by the Energy
Department -- occurred almost simultaneously. "I'm saying `there must be some
reason I'm here,' " he said later. "These things happening like this, the
odds must be in the millions."
Mr. Stroud won't discuss which companies were vying for his oil, but he says
at one point he thought he had an offer to buy him out for $1.50 a barrel, or
$6 million. The most serious discussions began Thursday, with a
representative from a refining company, which he refuses to name. From that
discussion Thursday until the following evening, Mr. Stroud says, he was
confident that the refiner would grant him the letter of credit he needed.
But at 9 p.m. Friday, three hours before his deadline, Mr. Stroud said he got
a call telling him the deal was off. "I was upset," he says. "I mean, instead
of wasting my time with that I could have obtained the financing quickly"
from some other source.
A spokesman for Koch Industries Inc., based in Wichita, Kan., said it was in
negotiations with both Messrs. Euell and Stroud. "We invited them to make a
deal that made economic sense." BP Amoco said it also had discussions with
Mr. Stroud.
Mr. Stroud now says the DOE should have given him an extension, under the
circumstances. "If your mother passes, aren't you given three days to
grieve?" Mr. Stroud asks. His mother's funeral is scheduled for Wednesday,
which would have been her 75th birthday, he says.
Mr. Euell ran a small company, Euell Energy Resources, whose 12 employees
helped him broker natural-gas sales and other small energy deals. By night,
he worked the phones from his home in a modest Denver suburb, calling oil
producers in Nigeria and energy brokers in Singapore and Sydney, always
looking for the big score that would make him rich.
A friend, Norman Early, a sometime golfing partner and a former Denver U.S.
district attorney, says the 50-year-old Mr. Euell is "one of those guys who
shoots for the stars." On Oct. 4, Mr. Euell thought he had hit one. He had
been awarded the right to withdraw three million barrels of oil from the
Strategic Petroleum Reserve, in exchange for returning 3.3 million barrels a
year later. That was enough oil to fill 14,019 conventional tank trucks.
Knowing he would need a partner to provide financial backing, Mr. Euell had
already placed a call to a man he'd never met: Kenneth L. Lay, chairman and
chief executive of Enron Corp. He said he was sure he was going to be one of
the top bidders for the reserve oil. Would Enron like to be his partner?
Within a few hours John Nolan, the giant energy company's vice president in
charge of trading, called from London. Enron , he said, was interested.
By Oct. 6, the price of oil had already fallen, making Mr. Euell's bid look
generous. Still, he felt bullish. "I'm betting on Mother Nature, that she's
coming back this winter and that oil's going to be more valuable."
It wasn't Mother Nature, but the crisis in the Middle East that turned things
around. Monday, Oct. 9, the target price for November oil futures on the New
York Mercantile Exchange, jumped a dollar to $31.86 a barrel and headed
higher. Mr. Euell flew to Houston and took a room at the Hyatt Regency, from
which he could see Enron 's 50-story office tower.
By Tuesday, the price of oil had hit $33.18. By Mr. Euell's calculations that
meant a $3 million profit for him and an equal amount for his prospective
partner just across the street. Enron 's lawyers were working on an agreement
that would substitute Enron as the major party in Mr. Euell's contract, he
said, and were drawing up the letter of credit for $93 million that the DOE
required.
Eager to close the deal, Mr. Euell called Enron trader Patrick Danaher, who
was working on the project. "I want to sign this thing up today," Mr. Euell
told him, claiming that he had received an offer from another, unnamed firm,
offering to buy his contract for $1.2 million. According to tapes of the
conversation provided by Enron , Mr. Danaher said the paperwork was under
way: "Let me see if we can do that today."
Mr. Euell called backed at 11:30 a.m. and again at 11:45 a.m. Each time, the
trader sounded more pessimistic. Prospects were "50-50." When Mr. Euell
suggested he had other offers, Mr. Danaher told him: "If you have a bid at
$1.2 million, you should take it. A bird in the hand is worth two in the
bush. I just have to tell you that." Still, he invited Mr. Euell to dinner.
Tuesday's deadline passed without dinner or any action from Enron . While it
appears from the tapes that the parties had been close to an accord, Eric
Thode, a spokesman for Enron 's trading branch, says: "At no time was there
anything remotely resembling a deal with Mr. Euell."
Mr. Euell got the DOE to agree to extend the deadline for another 24 hours
and, after a round of frantic phone calls, says he collected pledges from a
group of European banks to support the $93 million letter of credit. But,
when the new deadline expired, he still had failed to get the proper
paperwork to the DOE, which then declared his award to have lapsed. "They
played me," Mr. Euell complains, blaming Enron for the missed deadlines.
Still, he says, the experience amounted to an instant "Ph.D." in oil. Next
time, he vows, he will have his own letter of credit.
The DOE said late last week that it will accept new bids on the seven million
barrels of oil Messrs. Stroud and Euell forfeited.
As for Mr. Peek, he remains the mystery man of the three. His company,
Burhany Energy Industries Inc., was formed Aug. 21. It employs no one but Mr.
Peek himself. Staffers at the Florida Black Business Investment Board, where
Mr. Peek works as a business-development specialist, said he had taken last
week off. Shutters were drawn at his modest, one-story house in Tallahassee.
Phone calls to Mr. Peek were forwarded to an unidentified neighbor. In an
e-mail to a reporter, Mr. Peek apologized for being unreachable. He was
"working relentlessly to consummate this transaction" and couldn't "entertain
any distraction at the moment."
On Saturday, the Department of Energy announced that Mr. Peek had
successfully transferred his interest in three million barrels of government
oil to Hess Energy Trading Co. of New York, a partnership that includes
Amerada Hess. Amerada Hess Vice President Carl Tursi said he could give few
details of the deal, except to say that he believes there was an
"arrangement" that resulted in "a lot of money" for Mr. Peek.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Financial
DEAL OF THE WEEK; Artesia Seeks a Link To Information Firms
Nicholas Johnston
?
10/16/2000
The Washington Post
FINAL
Page E05
Copyright 2000, The Washington Post Co. All Rights Reserved
Rockville-based Artesia Technologies wasn't just interested in another
venture capital investment. It wanted partners.
In its recent $26 million funding, the digital asset management company's
second round, its venture capital lead was joined by a group of "strategic
partners."
Artesia wanted to form relationships with other information management
companies, instead of working only with banks or venture capital firms. "We
wanted to make it more of a partnership with other companies," said Brian
Hedquist, Artesia's marketing communications manager.
For example, in September, Vignette Corp. of Austin announced an agreement
with Artesia to create an Internet commerce application. Now with Vignette's
investment, the relationship is strengthened. "It's not a pure financial
investment," said Hedquist of the equity stake Vignette and the other
strategic partners have in Artesia. "They have a vested interest. We're all
going to benefit."
Artesia was born last year in a management-led buyout with the help of $25
million from Warburg Pincus.
CEO Chris Veator created the company when he and a group of insiders led a
buyout of the information management division of Boston-based financial
information giant Thomson Financial Corp.
Veator's idea was to jump into digital asset management for a broad array of
clients, not just managing information for publishing companies and new
organizations.
"We found very quickly," Veator said, "that the real opportunity was not just
in the publishing community."
Company officials said the funding will help Artesia pursue more
international expansion opportunities, the primary focus of which will be
Europe, where Artesia opened a London office last June. Also, the financing
will be used to increase the sales and marketing staff. Veator expects the
staff to double and revenue to triple over the next 12 months, though he
declined to give any financial information.
Artesia Technologies
Deal size: $26 million
Investors: Led by Warburg Pincus Ventures; EA Systems Inc., Enron Broadband
Services, Vignette, Razorfish and Protege Virtual Management Solutions
Description: Digital asset manager, helps companies catalogue, search and use
stored digital information
Headquarters: Rockville
Employees: 140
Web site: www.artesia.com
Contact: http://www.washingtonpost.com
IG
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Oct. 16, 2000, 11:01PM
What public gets is at heart of arena issue
By ERIC BERGER
Copyright 2000 Houston Chronicle
When Enron Field opened this spring, the Astros boasted to fans that they
were playing baseball the way it was meant to be -- on real grass, under the
open sky.
Blocks away, the Rockets and most of the city's political and business elite
are asking voters for a new basketball arena.
Yet, if voters approve the construction in the Nov. 7 election, the game
still would be played indoors on a hardwood floor. An arena is, after all, an
arena, and basketball already is played in Houston the way it was meant to
be.
The team points to such fan benefits as a flashier show, with modern video
and sound equipment, and a more competitive team funded by higher revenues.
The arena's influential backers say an arena would spur downtown development,
strengthen the economy and help affirm Houston's position as a world-class
city.
For nonfans, it's difficult to predict how many of these benefits an arena
actually would generate. More calculable is the financial effect it would
have on Rockets owner Leslie Alexander and, to a lesser extent, the city of
Houston.
Compared with his bare-bones lease at Compaq Center, Alexander and the 12
players who wear his uniform stand to benefit greatly.
Based on estimates from other new arenas, Alexander stands to reap $30
million to $45 million more a year were he to go from being a tenant at
Compaq Center to being landlord of a new arena. For about $7 million a year,
Alexander would enjoy revenue from such sources as 100 luxury suites, premium
club seating near the court, selling the building's name and even bestowing
upon Miller, Coors or some other brewer the right to sell $6 beers.
Granted, going from tenant to landlord would boost his costs. Less the rent
he now pays at Compaq Center, Alexander would spend $8 million to $10 million
a year to keep the lights on.
For players, there's no such overhead. They would share the windfall. Under
the collective bargaining agreement ratified in January 1999, most revenues
collected by NBA owners are stirred into a mythical pot, out of which 55
percent is divided by the number of teams to determine a salary cap.
For the city's part, it would spend less money buying and preparing land for
the arena under this year's deal, with expenses capped at $20 million. A
different location chosen in last year's plan would have cost the city at
least $15 million more.
Both this year and last the city was to own the land and arena after 30
years. Now the city would get a parking garage, too.
In the revised agreement, the city also would receive $200,000 a year, use of
the arena for convention-related events or fund-raisers on 20 days a year,
and a suite between the free-throw lines.
It's a "much better deal" for Houston, says Mayor Lee Brown, who, as a chief
negotiator and supporter of the previous deal, is among the least likely to
make such admissions.
City officials have valued the suite at $250,000 to $500,000 because it would
allow Houston to woo convention center customers. The Rockets plan to sell
the suites for $100,000 to $150,000 each.
The suite actually could cost more than it is worth if the city opts to cater
games for visitors. This year, the sports authority spent about $65,000 on
food for about 80 dates at Enron Field. There would be at least twice as many
events in the arena.
The public would make its greatest contribution through the Harris
County-Houston Sports Authority.
That board would sell bonds to cover the arena's $175 million design and
construction cost. Appointed by the city and county to collect hotel and car
rental taxes to finance stadium construction, the 13-member sports authority
also would repay a $30 million loan -- interest-free for the first five years
-- from business leaders earmarked for a parking garage.
What does the public get in return?
"Something much bigger," said Ken Lay, co-chairman of the pro-arena campaign.
"It's making Houston, Texas, and particularly downtown, a much more viable
economic area. Making it more attractive for business to come to town, making
it more attractive for conventions to come to town, and making it more
attractive for the best and brightest talent in the world to come here and
work with us."
Moreover, supporters say a downtown arena, with its advanced sound and video
systems, wider concourses, scores of restrooms and a constellation of
eateries, would be like going from a phonograph to a hi-fi stereo.
Some longtime Compaq Center patrons who have visited new arenas agree.
"When people go to Enron Field they've had an experience," said fan Rebecca
Tonahill, 53, who attends a couple of dozen Rockets and Comets games a year
and has traveled to Los Angeles and Indianapolis arenas that opened last
year. "You don't get an experience at Compaq Center, but I think they could
capture some of that with the new arena."
Overall analyses of the deal's bottom-line cost vary by how much the sports
authority loses, if anything, from building the parking garage.
Harris County Tax Assessor-Collector Paul Bettencourt calculates the Rockets
would pay only 30 percent of the arena's total cost, which comes to $256
million by his tally, and the public would pay the remainder. Ric Campo, the
sports authority's financial whiz, contends the team's contribution would be
closer to half of the $220 million he estimates as the total cost.
Depending on how the numbers are manipulated, both are right.
Bettencourt believes the public would pay the parking garage's entire $35
million cost.
A sore spot among tax watchdogs has been the sports authority building a
garage that Alexander will have exclusive profit from during his events,
including games involving the Rockets and Comets basketball teams and
ThunderBears arena football team.
Still, said Campo, the sports authority has use of the garage at all other
times, which he says would be enough to cover annual garage payments. The
private loan is interest-free for the first five years, which would save $9
million.
What is clear is that taxpayers would spend between $125 million and $175
million to build an arena that would create wealth for a few. Arena opponents
call it corporate welfare. Supporters say it's a good investment.
It has happened before, to an even greater extent, with the construction of
Enron Field for Astros owner Drayton McLane Jr. and the football stadium for
Houston Texans owner Bob McNair.
"This point always raises serious questions about balance in people's minds,"
said Dennis Howard, a sports marketing professor at the University of Oregon.
"Those paying the greatest share are not getting the benefit. They often
can't even afford to go."
The counter-argument from arena supporters is that visitors pay most hotel
and car rental taxes. Bettencourt has studied the issue and concluded that
locals pay at least 30 percent of the visitor taxes.
Howard's research suggests about one of every 10 people who live in a market
where a major-league sports team gets a new building ends up using the
facility in a given year. However, the study did not differentiate arenas
from football or baseball stadiums. Arenas probably would attract more people
because of the many nonsporting events held there.
Not only do fans pay for the building with taxes, they are hit again by more
expensive tickets, said Howard, noting that average ticket prices jump by 30
to 40 percent in a new building.
The Rockets disputed that, citing a study of six recently opened arenas where
prices jumped from 7 to 28 percent. The team's chief operating officer,
George Postolos, said the Rockets have not raised the price of the most
affordable tickets in five years. He said the team would remain committed to
keeping a comparable number of affordable seats in a new arena.
Customers buying expensive tickets, typically corporations, would feel the
bulk of the increase.
"Premium seat holders get more in a new building," he said, "and they pay
more for it."
Houston voters, at least, have a fairly clear idea of who is getting what in
this deal. "It's all right there on the table," notes Bob Eury, president of
Central Houston Inc.
That is not always the case when teams and governments are eager
collaborators in search of public support. In Indianapolis, for instance,
local media suggested the agreement to build the $183 million Conseco
Fieldhouse involved $104 million in private money and $79 million in public
money. One reporter writing in the Indianapolis Star's special arena-opening
section went as far as to write: "This isn't Houston or Hartford, Conn., or
those other cities that swung open the public vault when it came time to pony
up for new sports facilities."
An arena built with less public than private money in such a small market
would be something worth bragging about.
The reality in the bond documents is much different: The city's capital
improvement board sold $222.6 million worth of bonds to finance the arena and
a parking garage. Those bonds will be repaid by a dizzying array of taxes,
including a cigarette tax, car-rental tax, hotel tax, a tax on goods sold at
the arena, and a diversion of state income taxes on player's salaries.
The private contributions come from $10 million worth of donated land, a $37
million loan to be repaid by the city, and, as touted by the Star, $57
million from the Pacers basketball team.
But the Pacers' "contribution" is made up almost entirely of revenues the
city expects to generate from the arena's publicly financed parking garage
when the team is not using it, according to an attorney who worked on the
bond sale.
Advertising for the arena in Houston so far has been accurate, but there are
two sides to some of the numbers presented.
A common claim is that the Rockets would pay $8.5 million a year in rent,
appearing most recently in an Oct. 1 opinion piece by sports authority
Chairman Billy Burge. This implies that more than half the $13 million to $14
million the sports authority would pay on its arena debt each year would come
from the Rockets.
Actually, of this "rent," $1.6 million would be put into a fund for major
arena repairs. Another $1.5 million would be paid to the sports authority,
but if the sports authority could pay its annual debts, the money would be
refunded to the Rockets. The sports authority would have enough money to pay
its debt on three stadiums if its tax revenues rise at 3 percent. They have
grown at around 10 percent in recent years.
Finally, another $200,000 of the "rent" is paid to the city.
Boosters also commonly promote arenas to voters as engines of economic
development, generating millions of dollars in sales taxes.
But even if the teams left, most personal leisure spending would simply be
spent on movies, the arts or other forms of entertainment, said John
Siegfried, a Vanderbilt University economics professor.
The other major chunk, from sales taxes on corporate spending at the arenas,
often comes from advertising budgets, he said, and there are other
promotional activities where the money could be spent.
"Repeatedly, we're finding the emperor has no clothes," said Howard, of
Oregon. "These buildings are sold as economic development engines, but the
economic impact they create is negligible."
Studies by professional consultants may, and often do, find otherwise, but
they are usually commissioned by a team or government seeking to justify
public spending on a new facility, Siegfried said.
Campo countered that building Enron Field has already fueled local economic
gain from higher property tax revenues. The ballpark's 10 blocks of land were
purchased at $12 per square foot, he said. A single block across the street
was recently sold for $100 a square foot to Trammel Crow.
Land values around the arena site have likewise doubled within the last year
on speculation of development there.
"That's creating a lot of value for the city, county and schools," Campo
said.
Economists, including four interviewed for this article, argue that spending
public money in other ways, such as tax abatements to developers, would
stimulate even more activity. They point to research in respected economic
journals that has found higher high school graduation rates and more spending
on police encouraged economic growth, whereas a major-league sports team
actually put a drag on the economy.
By Texas law, the sports authority may not spend the taxes it collects on a
venue unless it is approved by voters, and it may spend its revenue only on
sports facilities or other community projects like an arts center.
Its 2 percent hotel tax and 5 percent car rental tax will not rise if the
arena proposition passes. Adding arena payments to its existing debt would
completely tap its resources, however.
The board has not addressed what to do if the arena fails. To spend money on
anything other than an approved venue, such as hospitals or schools as
opponents suggest, would require legislative action.
Return to top
OUTLOOK
Editorials
FOR ARENA / Many concrete reasons to support this proposal Nov. 7
Staff
10/15/2000
Houston Chronicle
4 STAR
2
(Copyright 2000)
Houstonians are no strangers to the many arguments for and against the
building of new sports arenas. We've hashed and rehashed them often in the
past few years. We've put one facility - Enron Field for baseball downtown -
on the map, and we're erecting another - a new football/rodeo stadium at the
site of the Astrodome.
A decision on a third piece - a downtown basketball/hockey arena - is
forthcoming on the Nov. 7 election ballot.
The Chronicle urges voters to vote for the arena referendum.
It makes sense for Houston to finish the third leg of this sports facility
package as both a quality-of-life amenity and a valuable economic development
tool.
The arena proposal is essentially the same one, in terms of financing, as the
others that were approved by voters in 1996. Tax dollars will be spent
sparingly, taxpayer liability is limited, and taxpayers are even protected
from having to pick up cost overruns.
The fact there is a relative consensus on the proposal, or at least a lack of
vigorous opposition as there was on a previous proposal, is a signal that
this deal is a better one for Houston. The building's tenants, the Houston
Rockets and Comets, are paying a fair share of the costs.
Ticket and parking taxes have been eliminated from the new proposal.
Many people find the "corporate welfare" aspect of publicly financed arenas
distasteful, and some of their concerns have merit. But the reality is that
major league sports teams are amenities that help cities and all of their
residents. That's part of the reason so many cities compete to have them and
retain them.
Houstonians have debated this issue for years, and some people will adhere,
no matter what, to the philosophy that sports teams shouldn't be publicly
subsidized. Continued debate won't change their minds.
We believe the presence of sports teams and facilities such as these is a
plus for the city that far outweighs the public costs.
It's not an esoteric, theoretical discussion. The proof is concrete - as
concrete as the 18 new projects developed in downtown around Enron Field.
They include a mix of residential, office and entertainment facilities
totaling about $700 million.
The economic activity these enterprises generate is already a boon to
Houston's economy. The property value they add to the tax rolls will more
than offset the public investment costs of Enron Field.
Some critics of the arena have posited the theory that funds needed for
public safety, such as improvements to the Fire Department, will be raided or
shortchanged by the city's commitment to the arena. But that's simply not the
case. The increased property taxes and other benefits of a more dynamic
downtown will repay the city's investment many times over. That's new tax
money available to the city's general fund, which pays for police and fire
protection. So, it's not an either-or decision.
Furthermore, what the stadium and all this activity have done for downtown,
and for Houston's image as a whole, is quite remarkable.
Remember, downtown's northeast quadrant was was a virtual ghost town of
dilapidated warehouses and empty fields only a few months ago. Enron Field,
coupled with Theater District development and other projects, has put to rest
almost every argument that was made against the building of that stadium.
A downtown arena would help complete the renaissance of the area and would
put money into the public coffers.
These are all strong reasons to vote enthusiastically for the arena proposal
on Nov. 7.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
A
Is new arena deal a slam-dunk for taxpayers? / Houston's costs, funding for
NBA team compared to other cities
ERIC BERGER
Staff
10/15/2000
Houston Chronicle
2 STAR
1
(Copyright 2000)
Those who support subsidizing an arena to keep the Houston Rockets in Space
City hail the deal struck this summer. It's better for taxpayers than last
year's accord, they say. It's comparable to what the Astros and Texans got.
Perhaps more important, they say, the agreement Houstonians will vote on Nov.
7 is a "market deal" that compares favorably with other arenas built in
recent years for National Basketball Association teams.
But does it really?
A Houston Chronicle study of the seven most recently built U.S. arenas for
NBA clubs reveals that four were constructed with less tax money than will be
spent here if voters approve next month's arena proposition. One had a
slightly larger public contribution and two were built with considerably more
public money.
There are good reasons for this, arena boosters contend. Unlike Houston,
three of these four cities offering lesser subsidies provided other
incentives.
In Dallas and Los Angeles, they note, the government condemned whole blocks
of land for private development around the arena. In Atlanta, Ted Turner was
given carte blanche to develop public land.
All of the markets that received a smaller subsidy also had both major league
basketball and hockey teams, which could share the construction costs. Two
teams generate more revenue, which tends to make the public contribution less
vital.
"This is one of the largest single-team contributions to a building ever,"
said Rockets Chief Operating Officer George Postolos, whose team is paying
about $7 million a year for control of the Houston arena.
Still, there is another general rule of thumb when it comes to determining a
public subsidy. Historically, the less populous a city and its suburbs, the
more public money is needed to complete an arena project. With their bevy of
Fortune 500 companies, larger cities far outstrip the mid-sized markets'
capacity to buy the pricey suites and club seats that make new arenas so
lucrative for NBA owners.
Strikingly, an arena was built with far fewer tax dollars in one city smaller
than Houston - Denver.
Atlanta, a market comparable to Houston, built an arena with considerably
less public money.
This was also the case in two larger markets. Los Angeles built an arena with
almost no public money, and Dallas' expensive project had substantially less
public than private money involved.
Only two of the cities reviewed, San Antonio and Indianapolis, built arenas
with larger public money contributions, which is consistent with their
relatively small market stature.
"The arena deal follows the Enron Field-type of model," said Harris County
Tax Assessor-Collector Paul Bettencourt, who released a study critical of
Houston's arena plan but has not campaigned against it. "It's consistent with
how the baseball and football stadiums were built in Houston.
"But it's clearly not the model for arenas in the rest of the country, from
Los Angeles to Atlanta to Denver."
Conservative activist Bruce Hotze, who recently launched an effort against
the arena, says Houston should follow the example of other cities where the
owners of sports teams - such as the Utah Jazz in 1991 - have primarily paid
for their facilities. He characterizes anything less as corporate welfare.
The list of factors determining how far a team can dip into public coffers
goes on, from the breadth of a team's local following to its success and its
owner's popularity, said Andrew Zimbalist, a Smith College economics
professor.
But the overriding factor is probably simpler, he said.
"The best strategy for any team to follow is to ask for so much money that
the referendum passes by a tenth of a percentage point," Zimbalist said.
"Teams will get as much as they can. If it passes by 5 percent, the owner,
usually a smart businessman, has done himself a disservice."
Another big factor is a threat to move.
This has loomed over Houston since NBA Commissioner David Stern announced
earlier this year that he was "certain" the Rockets would leave town without
a new building.
When the Denver Nuggets wanted a new arena in the mid-1990s they had a decade
left on their lease. The Rockets have just three years left before they can
leave Houston. Otherwise, Denver's circumstances as its leaders began
negotiating with the team were remarkably similar to Houston's.
The city had just spent about $200 million in public money to build Coors
Field for the Colorado Rockies baseball team, and was contemplating an even
larger expenditure to replace Mile High Stadium for the NFL's Broncos.
But when it came to the city-owned McNichols Arena, built, like Compaq
Center, in 1975, the attitude was that if the team's owner wanted a new
building he would have to do it largely with public money, said Dean Bonham,
a Denver-based sports consultant. Eventually, the owner got some city
concessions totaling about $30 million but paid for all the arena's
construction costs.
A few years later in Houston, after building Enron Field and ponying up for a
new football stadium, public leaders have signed a similar, heavily
subsidized plan for the basketball team.
What was it that opened Houston's treasury when Denver's was closed?
"I can sum the difference up in one word: leverage," Bonham said. "The Denver
teams weren't going anywhere soon. The Rockets got a green light to go."
In Miami, a smaller market where a building was constructed with slightly
more public money than would be spent in Houston, the Heat's first arena was
only 8 years old when the team asked for a new facility.
At first team officials, amid threats of leaving, managed to cut a deal with
the Miami-Dade County Commission to build a $165 million arena on Biscayne
Bay with only $50 million coming from the team.
But leading up to a referendum a new county mayor, Alex Penelas, was elected
in part because he campaigned against public financing for the arena, saying
the county had "given away the kitchen sink."
Later, a deal was struck in which the team paid for the arena's construction
and the county bought bayfront property and helped the team with annual
operating costs.
This dramatic game of building publicly backed sports stadiums with
questionable public support is so familiar throughout the United States that
it has practically become the fifth major league sport.
More than $21.7 billion has been spent or committed on 95 built or planned
big-league stadiums since 1990, and, according to several economists'
calculations, two-thirds of that money comes from public sources.
In Houston, more than two-thirds of the nearly $1 billion in built, planned
or proposed stadiums since 1996 has or would come from public sources.
In spring 1996, citing aging facilities and unprofitable leases, the Oilers
had left town and the Astros were making threats. The still-champion Rockets
were bound here into the new century, but would soon sue to break that lease
and were making no promises beyond 2003.
The Astrodome and Compaq Center had lost their sheen amid a nationwide tide
of stadium building that is only now ebbing. Political leaders decided they
must do something to stop the defection of Houston's pro sports teams.
For several months, a blue-ribbon commission chaired by Pete Coneway and Ben
Love tackled the issue, ultimately deciding, as elsewhere around the country,
that the city and county should help build new facilities for baseball,
football and basketball.
From this blueprint arose the Harris County-Houston Sports Authority, which
has helped fund two of those facilities and is seeking voter approval to
spend its remaining tax revenues on a new downtown basketball arena.
The Astros hit the jackpot with Enron Field, which has propelled their
attendance to more than 3 million for the first time. After the Oilers made
good on their threat to move to Nashville, it took Bob McNair's $700 million
and Texas charm, as well as a $367 million football stadium, to bring the NFL
back.
Sports authority members say that if McNair's experience teaches Houston
anything, it will take a far greater investment than the proposed arena's
costs to return the NBA should the Rockets leave.
They point out as well that in building both the baseball and football
stadiums, although each cost more than the arena, Alexander would pay more
than has either McNair or Astros owner Drayton McLane Jr.
Houston's arena deal, as complicated as it appears, lacks the hidden value
attached to some other deals, which Rockets officials say makes sports team
owners in the other markets appear less mercenary at first blush.
More than two years ago Dallas voters approved a $125 million public
contribution to a new arena by a handful of votes in a citywide referendum.
A scrappy coalition of opponents, which had only $75,000 to spend, tried to
point out that the public was giving up much more than the $125 million.
Beneath that widely reported figure was essentially freedom for the arena
developers, Dallas Mavericks owner Ross Perot Jr. and Dallas Stars owner Tom
Hicks, to proceed with an 18-city block, $1 billion overall development with
the city's blessing.
In January, Perot sold the Mavericks basketball team to Internet billionaire
Mark Cuban.
Perot, who had bought the team only four years earlier, said he was
interested in the new arena largely for the related development
opportunities.
"A lot of people look at a basketball team as an anchor tenant for an arena.
I look at an arena as the anchor tenant for a much larger program," he said
upon selling the Mavericks. His Hillwood Development Corp. retained the
development rights.
To aid the development, the city of Dallas condemned much of the land and
offered as much as $30 million for infrastructure work to spruce up the
property.
The city also let both the Stars, a hockey team, and Mavericks out of their
Reunion Arena leases several years early and went so far as to ensure no
other sports referendums would be on the same ballot. Hillwood also got a 4
percent construction management fee and Hicks 1.5 percent as part of the $325
million in public and private money spent on the arena.
"Oh sure, there were kickbacks and all that," said Sharon Boyd, co-
chairwoman of the opposition group It's a Bad Deal!
"It was like all of a sudden there were five men in Dallas that got free land
and didn't have to pay taxes. That's a sweet deal."
Like Dallas, Atlanta offered Ted Turner a plush real estate deal to keep the
Hawks basketball team in the city, freeing up the NBA team to pay more than
half the arena's actual construction cost.
Hawks' owner Turner Broadcasting Co. was given 10 years to add development to
the public land the arena was built on, with streets, roads, sidewalks and
other needed infrastructure paid for with tax money.
In Los Angeles, the city condemned most of about 30 acres surrounding the
privately developed Staples Center for a hotel, restaurants and an
entertainment district.
"The subsidies take all kinds of forms," said Robert Baade, an economics
professor at Lake Forest College in Illinois.
"The cities and teams have become much more clever about how they finance
these things and hide the public subsidies."
Monday: Who would pay, who would benefit from a new arena.
Graph: 1. Basketball arena deals (p.18); Photos: 2. Houston Rockets Proposal
arena (p.18); 3. San Antonio Spurs: SBC Arena (p. 18); 4. Dallas Mavericks:
American Airlines Center (p.18); 5. Atlanta Hawks: Phillips Arena (p.18); 6.
Denver Nuggets: Pepsi Center (p.18); 7. Los Angeles Lakers, Los Angeles
Clippers: Staples Center (p.18); 8. Miami Heat: American Airlines Arena
(p.18); 9. Indiana Pacers: Conseco Fieldhouse (p. 18)
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Chris Germany/HOU/ECT on 05/03/2000 11:20
AM ---------------------------
MARY THERESA FRANKLIN
04/06/2000 04:18 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: CNG Appalachian production
I've talked to Jackie and am following up w/ an E-Mail as soon as I get the
contract numbers from Gloria. So there
! | {
"pile_set_name": "Enron Emails"
} |
Hi,
Just wanted to let you know some final details about the course:
Course Titles: "Energy Derivatives: Pricing and Risk Management" and/or
"VaR for Energy Markets"
Venue Details:
Dates: 29-31 March
Location: Hyatt Regency downtown Houston, 1200 Louisiana Street, Houston
Phone: 713-654-1234
Schedule:
continental breakfast: 8.30am
Start: 9am
Beverage break: 10.30-11.00
Buffet lunch served in course room: 12.30-1.30pm
Snack break: 3.30-4.00pm
End: approx. 5.30pm
Course Leaders: Dr Les Clewlow and Dr Chris Strickland, Lacima Consultants
Please let me know if you need anything further.
Thanks and enjoy the course!
Sincerely,
Julie
Lacima Consultants | {
"pile_set_name": "Enron Emails"
} |
I have blocked 9 to 10 am.
-----Original Message-----
From: Dasovich, Jeff
Sent: Friday, April 27, 2001 5:05 PM
To: Guerrero, Janel
Cc: Tribolet, Michael; McVicker, Maureen
Subject: Re: Tuesday meeting with Steve Kean
I have cleared my calendar, so any time in the morning works for me.
Best,
Jeff
Janel Guerrero 04/27/2001 04:30 PM To: Jeff Dasovich/NA/Enron@Enron,
Michael Tribolet/ENRON@enronXgate cc: Subject: Tuesday meeting with Steve
Kean
Jeff/Michael,
In preparation of Ken Lay's tour through California next week, Steve Kean
would like to meet with the two of you (in Houston) on Tuesday morning.
Steve's morning is wide open, so please give me a time (one hour) that works
with your schedules.
Please cc Maureen McVicker . Thanks! | {
"pile_set_name": "Enron Emails"
} |
Tim will be speaking from 12 - 1 today in Mt Hood.
All other sessions will be 11 - 12
-----Original Message-----
From: Dunton, Heather
Sent: Thursday, January 03, 2002 1:27 PM
To: DL-Portland World Trade Center
Subject: Classes 11-12 Mt Hood
Please join Enron Training Sessions 11-12 MT Hood.
The goal is to provide an overview of each major function in our office to anyone who is interested in learning about what goes on here.
Schedule:
1/4 Tim Belden - Floor Overview
1/7 Matt Motley - Term Trading
1/8 Sean, Diana, Richter - Cash Trading / California Market
1/9 Stewart, Paul, Foster - Middle Market / Services
1/10 Tim H - Fundies
1/11 Alan - Regulatory
1/14 Donald - Scheduling
1/15 Bill - Real Time
1/16 Scotty - Volume Management
1/17 John - Risk Management
1/18 Susan, Steve, Christian - Credit & Legal
1/22 Todd - Structuring | {
"pile_set_name": "Enron Emails"
} |
Happy New Year!!
Daily-Blessing
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http://www.daily-blessings.com/kids.htm
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<<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>>
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<<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> <<<>>> | {
"pile_set_name": "Enron Emails"
} |
Lucky sob
-----Original Message-----
From: Lavorato, John
Sent: Monday, September 24, 2001 4:13 PM
To: Arnold, John
Subject:
gb -4 under 46.5
gb -4 over 34.5
wash +16 over 34.5
wasg +16 under 46.5
all 50 | {
"pile_set_name": "Enron Emails"
} |
i didn't do it !!!! | {
"pile_set_name": "Enron Emails"
} |
FYI
-----Original Message-----
From: [email protected]@ENRON
Sent: Thursday, April 04, 2002 10:55 AM
To: Germany, Chris
Subject: Lone Star Pipeline
Price for the 5th is 3.40
Thanks for the business!!!
---------------------- Forwarded by Lynn Handlin/ENERGY/TXU on 04/04/2002
10:54 AM ---------------------------
"Germany, Chris" <[email protected]> on 04/03/2002 04:18:21 PM
To: "Mazowita, Mike" <[email protected]>, "Kelly, Katherine L."
<[email protected]>, "Dinari, Sabra L."
<[email protected]>, <[email protected]>
cc: "Germany, Chris" <[email protected]>
Subject: Lone Star Pipeline
Lynn, I'm selling you 10,000 dth for Friday, April 5th at the same point we
sold it to you today. Kathy Kelly will call you tomorrow about the
weekend.
I love email!!
Just as an introduction, I'm taking Joe Parks place buying/selling the gas
everyday. Kathy Kelly is my backup and she will be handling things for the
rest of the week. Sabra Dinari schedules the gas on Lone Star for us.
Mike, this is what we have sold to TXU for April
Date Volume Price
4/1/2002 10,000 $3.025
4/2/2002 10,000 $3.230
4/3/2002 10,000 $3.550
4/4/2002 10,000 $3.515
4/5/2002 10,000 ??
Thanks
Chris L. Germany
Manager, Gas Trading
Phone 713-853-4743
Fax 713-646-3059
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply to Enron Corp. at [email protected] and delete
all copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
********************************************************************** | {
"pile_set_name": "Enron Emails"
} |
Please fax the signed agreement to 713/646-3490. If you have any questions
call me at 713/853-3399. Thanks.
"George Emerson" <[email protected]>
08/03/2000 09:07 AM
Please respond to gemerson
To: "'Leslie Hansen'" <[email protected]>
cc: "'Dave Samuels'" <[email protected]>, "'Tana Jones'"
<[email protected]>
Subject: RE: Revisions to NDA
Dear Leslie: The changes are fine by me. In fact, I like them so much,
I'll now use this as our standard NDA. Do I owe you legal fees ;) ??
Pls send me a fax number and address so I can fwd signed fax copy and then
two fair copies via post.
/g
> -----Original Message-----
> From: Leslie Hansen [mailto:[email protected]]
> Sent: Wednesday, August 02, 2000 3:00 PM
> To: [email protected]
> Cc: Dave Samuels; Tana Jones
> Subject: Revisions to NDA
>
>
>
>
> Dave Samuels asked that I review the Nondisclosure Agreement
> that you forwarded
> to him yesterday. I have reviewed the NDA and prepared a
> number of revisions to
> the Agreement. Please give me a call to discuss my revisions
> after you have had
> an opportunity it review.
>
> Regards,
>
> Leslie Hansen
>
> (See attached file: ISPNI NDA.doc)
>
> | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, December 06, 2001 8:07 AM
To: Runswick, Stacy
Subject: One Fish, Two Fish, Yellow Fish, Enron
Enron, according to Dr. Seuss...
They exercised and sold, exercised and sold.
And told all the employees to hold.
While they made billions, they continued to say
Our company will be the greatest someday.
But lo and behold it would not come to pass.
It was all a fraud and scam most would call crass.
"How could it be true?" we all asked.
"All we do is buy and sell gas".
But to make their personal billions
They had to keep in the dark their minions.
So they lied and cheated, stole and cajoled
Analysts, investors, workers and sold and sold.
But they found out the scam
And put the company in quite a stew.
They told Ken and Andy "we have lost confidence".
Little did they know, that confidence is what cons do.
The old man in charge said "we all trust Andy, he's fine,
He made me my fortune and never charged a dime!"
Andy got paid to manage illegal partnerships you see,
And for that he collected thirty m! illion as his fee.
But the pressure was on, and Ken had to act.
He told Andy, "You must go on leave"
Is he still on the payroll we asked?
We get no answer. Seems Andy will be there to the last.
Ken restated his books, and oh the looks that
Were on the faces of all but the crooks.
The books had been cooked! Not one year, not two, not even three,
They had been cooked a total of four.
And many suspect even more!..
He went into the elevator, that old gas trader.
He hit floor fifty, where his offices reside.
With two armed guards standing at his side.
And so he rose to the top of 1400 Smith
And went into the boardroom forthwith.
There were the ghosts of Fastow, and Skilling.
Where with their cronies they devised great scams.
How to deceive, cheat, and steal millions of clams.
And with one more scam to do
He picked up the phone and called his friend Chuck.
"Chuck", he said, " I'm in quite a jam, can! you please
help me I got caught in my scam".
So old Chuck bit a nd came to Kens side,
First with some money and took Ken as his bride.
But that old scoundrel had played too many scams
This one he could not hide as Chucks lawyers and guides
Went over Ken's books and found such a surprise.
There were no trades, there were no counterparties.
There were no assets, there was no Christmas party.
And so Chuck went to Ken and said "Your company
Is a sham. It was all lies. I cannot merge with you.
Your firm is a rotting carcass festering with flies!
And so Ken thought. He thought and he thought.
He will file Chapter eleven and fire a lot.
Four thousand to be exact.
We thought he has lost gazillions,
but prior filing he managed to bonus
his friends fifty eight Million.
And so we are told, the company will be back.
A shell of itself but not quite the same.
The shell is appropriate as we all know,
The core business of Ken is a shell game. | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Jeff Dasovich/NA/Enron on 03/08/2001 12:12 PM -----
"Katie Kaplan" <[email protected]>
03/08/2001 12:17 PM
To: <[email protected]>
cc:
Subject: RE: FW: CAISO Notice - Draft Market Stabilization Plan
ISO Market Participants:
The ISO has developed a market stabilization plan, designed
to stabilize operations and control costs in California, to be implemented
in the next two months. It would remain in place for the near term (through
Summer, 2001 and beyond) and includes changes to existing ISO practices as
well as an expansion of the ISO's responsibilities. Because of the need to
move quickly so that the plan can be implemented by this summer, we will be
unable to hold a full stakeholder review process. But, we do want to
discuss the plan with you so that you can understand the proposal and the
reasoning behind it.
The ISO will post this plan on the ISO web site at
http://www.caiso.com/stakeholders/ <http://www.caiso.com/stakeholders/> , by
COB tomorrow. In addition, we will host a conference call from 10:00 a.m.
to 2:00 p.m. PST this Friday, March 9, to discuss the plan with you and
clarify any outstanding issues. We then plan to request the Board's
approval for this plan on March 15th in order to be able to implement the
plan by summer.
The call in information is as follows:
Market Stabilization Conference Call
Friday, March 9, 10:00 a.m. - 2:00 p.m. PST
Call-In Number: 877-381-6005
Conference ID #: 760357
Leader Name: Byron Woertz
Following the call, you may submit any comments on the plan
to us by close of business on Tuesday, March 13. You may send your comments
to [email protected]. We will do our best to summarize your comments and
present them to the Board at their March 15 meeting. In addition, there will
be a public comment period on the 15th.
Please contact me if you have any further questions.
Byron B. Woertz, Jr.
Director, Client Relations
(916) 608-7066
Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, March 08, 2001 8:42 AM
To: Katie Kaplan
Subject: Re: FW: CAISO Notice - Draft Market Stabilization Plan
Katie:
Thanks so much for the info. Do you have the call-in number for the ISO
call today?
Best,
Jeff | {
"pile_set_name": "Enron Emails"
} |
Jeff, yet another email. This article just got re-written but obviously
needs to be updated. What do you think about putting in your name on this?
Mike
---------------------- Forwarded by Mike McConnell/HOU/ECT on 07/28/2000
07:50 AM ---------------------------
Doug Morgan@ENRON
07/28/2000 07:49 AM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: Final version
Hi Mike--
Thanks for the added comments and corrections to the first draft. Here's the
final, if you'd just send me back an okay, so we can move forward with it.
Thanks again for your cooperation.
Doug | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by John Arnold/HOU/ECT on 08/02/2000 10:46
AM ---------------------------
"Zerilli, Frank" <[email protected]> on 08/01/2000 02:58:03 PM
To: "Kelly, Joseph" <[email protected]>, "Marcotte, Tom"
<[email protected]>, "Lynch, Justin" <[email protected]>,
"Fioriello, John" <[email protected]>, "Dennis, Robert"
<[email protected]>, "Glynn,Kevin" <[email protected]>,
"Leo, Andre" <[email protected]>, "Sergides, Melissa"
<[email protected]>, "Bill Horton (E-mail)" <[email protected]>,
"Lew G. Williams (E-mail)" <[email protected]>, "Lew G. Williams
(E-mail 2)" <[email protected]>, "Christine Zerilli (E-mail)"
<[email protected]>, "Sharon C. Zerilli (E-mail)"
<[email protected]>, "Stacey & Dave Hoey (E-mail)" <[email protected]>,
"Jeannine & Rob Votruba (E-mail)" <[email protected]>, "Pat Creem
(E-mail)" <[email protected]>, "josh Faber (E-mail)"
<[email protected]>, "Jason D'alessandro (E-mail)" <[email protected]>,
"David D'alessandro (E-mail)" <[email protected]>, "Eric Carlstrom
(E-mail)" <[email protected]>, "Sean Jacobs (E-mail)"
<[email protected]>
cc: "'[email protected]'" <[email protected]>
Subject: baby
baby
- baby.mpg | {
"pile_set_name": "Enron Emails"
} |
Doug,
Propane prices as promised.
Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/23/2000
05:28 PM ---------------------------
Elena Chilkina
08/23/2000 02:30 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Propane prices
Vince,
Please find attached file with propane price statistics. There are two kinds
of data: (1) prompt month futures prices, no location specified, starting
from 1987; (2) index prices for different locations (North Sea, Venezuela and
Saudi Arabia), starting 1988. Source of both is Platts publications.
Please notice that price of futures in given in US cents/gallon, and index
prices in USD/MT.
Sincerely, Elena | {
"pile_set_name": "Enron Emails"
} |
Tana:
Could you please have the clerks hand deliver this to Dave Forester? Alos,
can you update Mark on what happened with Susan Bailey this afternoon with
respect to the last interview and how much time if any she spent in that
interview?
Thanks.
carol | {
"pile_set_name": "Enron Emails"
} |
Ken,
I just wanted to drop you an email to touch base on the Institute.
Yesterday, I went to see Stuart's workshop of three new original musical
theatre productions at UH. It was very exciting, and even more so knowing
that we can take his efforts to a new level with the establishment of the
Insitute.
Anyway, I just wanted to check in with you. I hope all is well, and look
forward to hearing back from you.
L3
PS - congrats on the Arena vote! | {
"pile_set_name": "Enron Emails"
} |
FOR IMMEDIATE RELEASE
PROS Revenue Management Announces Energy Profit Optimization Web Seminar Series
November 20, 2001-Houston- PROS Revenue Management, the world's leader in pricing and revenue optimization science and software, today announced a series of Energy Profit Optimization Web Seminars for the natural gas pipeline, storage, and trading industries in December.
PROS cordially invites you to attend this series which is scheduled as a set of four seminars as follows:
o December 5th: Pipeline Natural Gas Profit Optimization, 2:00 - 3:00pm Central Time
o December 6th: Storage Profit Optimization for Storage Operators, 2:00 - 3:00 pm Central Time
o December 6th: Storage Profit Optimization for Storage Traders, 3:30 - 4:30 pm Central Time
o December 7th: Trading Profit Optimization, 2:00 - 3:00 pm Central Time
Recently, a Wall Street analyst was quoted: "By 2001, companies that neglect to implement yield management techniques will become uncompetitive." PROS Revenue Management solutions have been credited with delivering 6-8% incremental revenue and 20-100% incremental profits. These Web seminars will allow industry leaders to learn from the experience PROS has gained in over 16 years of deploying these solutions.
These seminars will cover the basics of increasing revenues and profits while providing insight on how real-time data can be used to forecast demand elasticity and optimize profits. Participants of previous PROS seminars have found these sessions to be extremely helpful in improving their business and making them more valuable to their respective organizations.
The Web format will allow participants to attend from remote locations, ask questions in real-time, and interact with the presenter through an Internet browser and toll-free telephone number.
This seminar is free of charge, spaces are limited for a first come first served basis. More information and registration can be found at: http://www.prosrm.com/events/energy_optimization_webcast_series.html, or send an email to [email protected]. Interested participants will be contacted to receive conference access information.
About PROS
PROS Revenue Management is the world's leader in pricing and revenue optimization solutions and the pioneer and dominant provider of revenue management to the airline and energy industry. PROS provides system solutions to the airline, energy, cargo, rail, healthcare, and broadcast industries, and has licensed over 235 systems to more than 95 clients in 39 countries. PROS' clients include 15 of the top 25 carriers in the airline industry.
The PROS mission is to maximize the revenue of each client using PROS' world-leading revenue management science, systems solutions, and best practices business consulting. PROS' clients report annual incremental revenue increases of 6-8% as a result of revenue management. PROS' solutions forecast demand, optimize inventory, and provide dynamic pricing to maximize revenue.
Founded in 1985 in Houston, PROS Revenue Management has a six-year compounded revenue growth of 40%, in large part due to the intellectual capital of its staff. Nearly half of PROS' professional staff has advanced degrees and the staff speaks a cumulative total of 26 languages. The company is profitable with Year 2000 revenue of $29 million. For more information on PROS Revenue Management, please visit www.prosRM.com or call 713-335-5151.
Candy Haase
3100 Main Street, Suite 900
Houston, TX 77002 USA
713-335-5253
713-335-8144 fax
[email protected] / www.prosRM.com | {
"pile_set_name": "Enron Emails"
} |
Phillip, some of the info needs to be updated. Everyone left before I could
ask them to update
their info.
I will forward you the latest one tomorrow.
Thanks,
Rain | {
"pile_set_name": "Enron Emails"
} |
There are Unresolved/Open items in the vendor payables system (iPayIt) and employee reimbursement system (XMS). Employees are strongly encouraged to resolve items in their inboxes. Please either process and approve, or reject these outstanding business expenses in your inboxes by 2:00 p.m. Monday, December 3, 2001.
For assistance with XMS please contact:
Enron Travel Management
(713) 345-6252, enron [email protected] <mailto:[email protected]>.
For assistance with iPayIt please contact:
Integrated Solutions Center
(713) 345-4727, [email protected] <mailto:[email protected]> | {
"pile_set_name": "Enron Emails"
} |
Our trader just noticed one difference between this Confirm and the one we
have with Chase.? The conversion to Canadian dollars in the Chase confirm is
done on each Friday in the Calculation Period and then at the end of the
Calculation Period, the prices are averaged.? In your Confirm, the amounts
are only converted on the Pricing Date.? The 2 have to be consistent,
therefore, can we change the language so it reads as follows:
"Currency Conversion:? For the purposes of this Transaction, the Floating
Price [for each Friday in the Calculation Period] shall be converted to a
Canadian Dollar equivalent at the Canadian Dollar/U.S. Dollar spot exchange
rate equal to the rate set forth on Reuters Page BOFC, under the headings
'Bank of Canada'; 'Canadian Dollar Exchange Rates'; 'NOON' opposite the
caption 'USD' as of 12:00 p.m. noon, Toronto time, (the 'FX Rate') [on each
Friday in the Calculation Period] (the 'FX Rate Calculation Date'), provided,
however, that if [such] FX Rate Calculation Date is not a Toronto Business
Day, the FX Rate will be determined on the Toronto Business Day immediately
preceding such FX Rate Calculation Date."
I put square brackets around the parts that I changed.
Thanks
Tracy Ross, Counsel, Royal Bank of Canada
Phone: 416-974-5503; Fax: 416-974-2217
File -
This email may be privileged and confidential.?
Any dissemination or use of this information by a person other than the
intended recipient(s) is unauthorized.? If you receive this in error,
please advise me immediately.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: September 28, 2000 7:14 PM
To: [email protected]; [email protected]
Subject: Confirm
Sara asked me to send you the attached.
Kaye
(See attached file: ECCRBCnymexR1.doc) | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 10/13/2000
12:50 PM ---------------------------
Leslie Smith
10/13/2000 10:59 AM
To: Angela Barnett/HOU/ECT@ECT, Regina Blackshear/Corp/Enron@ENRON, Angela
Gill/NA/Enron@Enron, Carolyn Gilley/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT,
Derick Jones/Corp/Enron@Enron, Sandra R McNichols/HOU/ECT@ECT, Eve
Puckett/Corp/Enron@ENRON, Melissa Rodriguez/HOU/ECT@ECT, Diane
Salcido/Corp/Enron@Enron, Judy Walters/HOU/ECT@ECT
cc:
Subject: Fwd: FW: RUBY
---------------------- Forwarded by Leslie Smith/HOU/ECT on 10/13/2000 10:57
AM ---------------------------
Lisa Shoemake
10/13/2000 09:16 AM
To: Leslie Smith/HOU/ECT@ECT, George D Smith/NA/Enron@ENRON
cc:
Subject: Fwd: FW: RUBY
---------------------- Forwarded by Lisa Shoemake/HOU/ECT on 10/13/2000 09:19
AM ---------------------------
Cheryl Slone
10/12/2000 08:37 AM
To: [email protected], [email protected], Stephanie Cole/Enron
Communications@Enron Communications, Lisa Shoemake/HOU/ECT@ECT, Copier
Repair/EPSC/HOU/ECT@ECT
cc:
Subject: Fwd: FW: RUBY
- ruby.pps | {
"pile_set_name": "Enron Emails"
} |
My comments in RED for what they are worth...
**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA 94104
(415) 733-4487 ph.
(415) 733-4190 fax
____________________Reply Separator____________________
Subject: Re: Case 3
Author: [email protected]
Date: 02/20/2001 4:40 PM
Carolyn, you're a star. Thanks for the input , Anil. For what it's worth,
I'll take a final looksee this evening and tie up any loose ends (though I
doubt that there will be any). I'll send around to all for one last peek
in the morning, and I'll bring a copy to turn in. Sound reasonable? Let
me know.
Best,
Jeff
- case 3 jeffs write up.doc | {
"pile_set_name": "Enron Emails"
} |
Tammie
Get all the assistants to do it by the week-end
-----Original Message-----
From: Shepperd, Tammy R.
Sent: Wednesday, January 23, 2002 6:57 PM
To: Schoppe, Tammie
Cc: Kitchen, Louise
Subject: Clean up
Tammie,
Many of the desks on 5 & 6 have items in/on them that need to be boxed up and labeled and put in storage. We need to have them cleaned up prior to moving new people to these locations ASAP.
Can you please help identify a task force?
Thanks,
Tammy | {
"pile_set_name": "Enron Emails"
} |
Did you find the Helen Baylor cd? | {
"pile_set_name": "Enron Emails"
} |
Have you seen any skittishness on the part of traders to use EOL or is demand for trading the same as usual? | {
"pile_set_name": "Enron Emails"
} |
Please find attached the SoCal disclosure schedules for the Purchase and
Sale Agreement for certain of the SoCal assets. If you have any questions
or any problems opening any of the attachments, please do not hesitate to
contact either Gray Sasser at (713)758-3425 or Donnie Roark at
(713)758-3374.
<<GTB-Sched.DOC>> <<TBG-Sched.DOC>> <<TGS-Sched.DOC>>
<<Transredes-Sched.DOC>> <<CEG-Sched.DOC>> <<CEG/Rio-Sched.DOC>>
<<Gaspart-Sched.DOC>> <<GasBol-Sched.DOC>> <<GasMat-Sched.DOC>>
<<EPE-Sched.DOC>> <<CuiabaII.DOC>> <<Elektro-Sched.DOC>>
<<Puerto-Suarez-Sched.DOC>> <<Riogen-Sched.DOC>>
Donnie Roark
[email protected]
phone: (713) 758-3374
fax: (713) 615-5945
- Summer-GTB Draft.DOC
- Summer-TBG Draft.DOC
- California Schedule - TGS.DOC
- Summer-Transredes Draft.DOC
- CEG Schedule.DOC
- RIO Schedule.DOC
- Summer - Gaspart Schedule - version 2.DOC
- v.4 California Schedule - GasBol 7-31-00.DOC
- v.4 California Schedule - GasMat 7-31-00.DOC
- v.5 California Schedule - EPE 7-31-00.DOC
- 285757_1.doc
- 280928_2.DOC
- 283241_2.DOC
- 285727_2.DOC | {
"pile_set_name": "Enron Emails"
} |
(See attached file: HPLN1104.xls)
- HPLN1104.xls | {
"pile_set_name": "Enron Emails"
} |
I attach a presentation nicely prepared mostly by Akshay Singh and the
Telecommunications portion by B.A.N. Sharma. This contains general
information on India that you may find useful. Please distribute this on to
others who may have use for the information. I apologize for the size of the
file. | {
"pile_set_name": "Enron Emails"
} |
Is this okay with you. Thanks, Aleck
----- Forwarded by Aleck Dadson/TOR/ECT on 04/23/2001 02:03 PM -----
Aleck Dadson
04/23/2001 01:01 PM
To: Eric Thode/Corp/Enron@ENRON
cc: [email protected], [email protected]
Subject: Market Opening Position
Eric, we are pretty sure the announcement will be that they will open the
market by May 2002. Today, senior political and bureaucratic staff in the
Ministry of Energy have gone out of their way to stress that the announcement
is designed to leave open the real possibility of an earlier opening (i.e.
in November 2001) if that is feasible. As matters stand, I think that our
response should be: a) We are pleased by the reaffirmation of the gov'ts
intention to move forward with competition in the Ontario power market; b)
our understanding of the position is that it leaves open the real
possibility of opening the market earlier, such as of November 1, 2001; c)
we continue to believe that an opening in November 2001 is feasible and in
the best interests of Ontario (for the reasons set forth in Ken Lay's speech)
; and d) accordingly, we will continue to work towards a November opening
and we encourage all others in the market to do the
same. Peter Varley of GPC is going to give you a call. | {
"pile_set_name": "Enron Emails"
} |
http://www.consultrci.com
*********************************************************************
Dear Subscriber,
When we launched IssueAlert six months ago, we recognized that you, our
readers, needed more than just news. We knew that the world had become
a faster, more
complicated place and that you needed same-day news and analysis.
Today, events in the energy industry have accelerated to such a degree
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Our mission is to help you succeed in making critical business decisions.
That is why we are bringing you SourceBook Weekly, our new e-zine.
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offer and get the information you need to move ahead of your competition.
Sincerely,
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Director of Marketing Communications
PS: Today's IssueAlert follows these SourceBook Weekly links.
************************************************************************
SourceBook Weekly December 4, 2000 Issue:
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
MISO: WHAT IS THE FUTURE OF THE MIDWESTERN TRANSMISSION GRID?
The Midwest Independent Transmission System Operator (MISO) has been in
a state of flux as of late, as its expansion efforts have taken some dramatic
turns with major players announcing to withdraw from membership.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
FERC UNDER FIRE: CALIFORNIA IOUS RESPOND TO PROPOSED ORDER WITH SHARP
CRITICISM
The Federal Energy Regulatory Commission's (FERC's) concession that the
market rules and structure for wholesale of electricity in California are
"flawed" resulted in a 77-page proposal early in November to repair the
situation. The reaction from California's three investor-owned utilities
(IOUs) was immediate and overwhelmingly critical.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
ESSENTIAL.COM PARTNERS WITH SHELL: ALLIANCE MAY PROVIDE EDGE OVER UTILITY.COM
In a small step forward for its Internet energy services, Essential.com
has partnered up with Shell Energy to offer a lower-cost natural-gas choice
to customers of Atlanta Gas Light. It appears that both companies will
benefit immensely from the partnership, but in very different ways.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
ALLEGHENY ENERGY: FORGING AHEAD IN GENERATION DEAL WITH ENRON
Allegheny Energy's recently announced purchase of three gas-fired merchant
plants from Enron North America reaffirms its strategy of expanding its
geographic footprint and strengthening its unregulated generation capability.
From Enron's point of view, the sale confirms its stated policy of pursuing
"contractual" rather than "physical" assets.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
ENERGY PRIVATIZATION IN MEXICO: THE FUTURE RESTS IN THE HANDS OF A NEW
ADMINISTRATION
Energy privatization and the future of electric supply and demand are issues
to be dealt with by Mexico's new president, Vicente Fox, as took over the
helm of the country on Dec. 1.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
WILLIAMS COMMUNICATIONS CONTINUES SPIN-OFF TREND
Williams is planning a spin-off of its Williams Communications (NYSE: WCG)
subsidiary, which should take effect the first part of next year.
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/SBEntrance.html
************************************************************************
===============================================================
SCIENTECH IssueAlert, December 6, 2000
LADWP Continues to Shine Despite California's Dark Period
By: Will McNamara, Director, Electric Industry Analysis
===============================================================
Reduced electricity supplies across the state forced the California
Independent
System Operator (Cal-ISO) on Tuesday to declare a Stage One Power Emergency
for the second consecutive day. The Cal-ISO is calling on all California
electricity customers to increase their energy-conservation efforts, and
urging them to delay turning on holiday lights until after 8 p.m. Responsible
for the reliability of California's electricity grid, the Cal-ISO declares
a Stage One emergency when the state's power reserves drop to 7 percent.
In contrast, the Los Angeles Department of Water and Power (LADWP), the
municipal utility that primarily serves the greater Los Angeles metro area,
announced that its more than 3.7 million businesses and residences are
enjoying stable electricity prices and a plentiful supply heading into
the holiday season.
ANALYSIS: What a sweet irony this must be for David Freeman, LADWP's general
manager. Just two years ago the municipal utility*the largest city-owned
utility in the United States*was ridden with massive debts and faced an
uncertain future. Now, LADWP in many ways can be seen as the only success
story on a landscape that is marked by one IOU maelstrom after another.
Let's take a step back and assess how LADWP was able to insulate itself
from the California crisis. Back in 1997, Freeman was brought on board
at LADWP (from the Cal-ISO, no less) to essentially save what was thought
to be a sinking ship. Straddled with $7.9 billion in debt, the need to
cut about 1,500 jobs and a likelihood of increasing rates for both residential
and industrial customers, Freeman's decision to take on the role of managing
LADWP seemed like many to be a herculean task. Yet Freeman arrived at LADWP
with an aggressive reorganization in mind, including the primary goal of
lowering rates and becoming debt-free by 2003.
Early on, Freeman made a critical decision*one that in hindsight appears
to be flawless*for LADWP to opt out of deregulation while the state's three
IOUs (PG&E, SCE and SDG&E) continued down the treacherous path of
restructuring.
While the IOUs began divesting themselves of generating facilities as means
of averting market power issues (due to agreements established with the
CPUC) LADWP was a prime example of public power throughout the United States
electing to keep the integrated utility model. In addition, Freeman blocked
ongoing attempts by a consortium led by Duke Energy to buy LADWP's trading
unit, and thus maintained control over the muni's generation assets.
Enter the summer of California's discontent. With demand on an unexpected
increase and supplies in questionable availability, LADWP found itself
having the upper hand. The wholesale market over the last year or so clearly
has favored generators, and LADWP was one of an elite group of companies
that capitalized on the disparity between supply and demand. Critics accused
LADWP of "profiteering," but Freeman contended that the utility was just
taking advantage of California's flawed market. The truth is that LADWP
was in the right place at the right time, and maximized its ability to
generate cash via power trading, which it used to drive down its debt.
A shrewd move by any estimation.
The utility ran its plants flat out for most of the hot season, illustrated
by the fact that it got fined for violating emission standards. Some reports
indicate that LADWP earned about $45 million just from surplus power over
the course of the summer. These profits only added to what LADWP had made
in the previous year. Fiscal year 1999 wholesale energy marketing and
transmission
services generated $98 million, which, along with other sources of wholesale
revenue, marked a growth of 118-percent over 1998.
The problems that were so well documented last summer have not stopped
with the onset of cooler temperatures. Ongoing structural problems within
the state of California continue to result in concerns about supply and
warnings of sudden increases in prices. As noted, the state continues to
face new challenges as generation that had been expected to be online has
been forced off, including a substantial amount from plants that had expired
air emissions credits. A squeeze on imports from the Pacific Northwest*another
carry over problem from the summer*also has complicated the situation in
California.
And, while the state IOUs evaluate long-terms contracts with energy providers
(based on today's high prices), LADWP is free to continue with an aggressive
generation plan. Among its objectives are to add 2,900 MW of power generation
within its service territory in the Los Angeles basin. The end result of
this would be less dependence on external sources for power and instant
supply available at times of peak demand. Also high on the list of Freeman's
priorities is the development of generation from renewable or alternative
energy sources. Already demonstrating a good record for green power, LADWP
wants to cut its NOx emissions at its in-basin plants by 65 percent by
2010. Toward that end, just this week LADWP announced that it has contracted
for two additional fuel cell power plants that it will install in the Los
Angeles area. The first 250 kW Direct FuelCell power plant is to be delivered
in the fourth quarter of 2001, and the second in the first quarter of 2002.
A previously ordered 250 kW fuel cell power plant, announced last year,
is to be installed at the LADWP headquarters in the second quarter of 2001.
Along with having no worries about supply, LADWP customers also can look
forward to a 5-percent rate reduction that should take effect by 2002,
followed by a 10-percent rate reduction that has been proposed for 2003.
As criticism continues to mount against California's competitive wholesale
market, it certainly appears that LADWP took a prudent route by opting
out of competition and retaining its integrated model three years ago.
===============================================================
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If you do not wish to receive any further IssueAlerts from SCIENTECH, please
reply to this message and type "delete" in the subject line. | {
"pile_set_name": "Enron Emails"
} |
Thank you for assisting with the interview process for Greg Shea on Monday, April 23, 2001. Below please find a copy of the scheduled itinerary for Mr. Shea.
As a reminder, he is interviewing for the position of VP of Gas Trading in Calgary reporting to Rob Milnthorp. He intends to bring his resume with him on his visit Monday.
10:30 - 11:00 Greg Whalley EB3322
11:15 - 12:00 Hunter Shively EB3316
12:00 - 01:30 John Lavorato EB3308
01:30 - 02:00 Jeff Shankman EB3330
02:00 - 02:45 Kevin Hannon EB4508
03:00 - 03:30 Louise Kitchen EB3314
03:30 - 04:30 Dave Delainey EB0884
04:30 - 05:00 John Arnold EB3316
If you have any questions, please feel free to contact myself or John Lavorato at x37991.
Kim Hillis
30681 | {
"pile_set_name": "Enron Emails"
} |
Just double checking my numbers, this is what I now show on COH storage. Let
me know if I need to tweak it and where.
Month Monthly Inj Ending Balance
Jul 1,089,097 4,053,906
Aug 1,089,123 5,143,029
Sep 786,579 5,929,608
Oct 120,999 6,050,607 <=== Max storage | {
"pile_set_name": "Enron Emails"
} |
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